Indian shares trim losses on metals surge; midcaps off lows

Viyash Scientific

11/08/2021 11:38

BENGALURU, Aug 11 (Reuters) - Indian shares trimmed early
losses to end flat on Wednesday as metal stocks surged, while
small-and-mid cap firms came off session lows after a bourse
said a new set of price limits to curb volatility would only
impact a few companies for now.
    The blue-chip NSE Nifty 50 index  .NSEI  rose 0.01% to
16,282.25 and the benchmark S&P BSE Sensex  .BSESN  was down
0.05% at 54,525.93, after hitting record highs on Tuesday.
    The S&P BSE Smallcap index  .SPBSSIP  closed 0.83% lower and
the BSE Midcap index fell  .SPBSMIP  0.22%. The indexes had
earlier fallen as much as 2.2% and 3.3%, respectively, after a
circular https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20210809-41
 on Monday from BSE Ltd  BSEL.NS  placing additional price
limits on securities to curb excessive price movement. 
    The stock exchange clarified https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20210811-6
 on Wednesday that the new price circuit rules would be
applicable on stocks that are priced above 10 rupees and have a
market capitalization of less than 10 billion rupees ($134.37
million). It issued a list of 31 stocks on which the rules would
be applicable for now.
    Investor sentiment was also dampened by weakness in Asian
shares on worries about the economic impact of the rapidly
spreading Delta variant. India's tally of COVID-19 cases has
crossed 32 million.  MKTS/GLOB   urn:newsml:reuters.com:*:nFWN2PH1NH
    In Mumbai trading, the Nifty Metal index  .NIFTYMET  rose
3.14% and was the best performing sub-index.
    Zomato Ltd  ZOMT.NS  closed 8.4% higher as investors looked
past a quarterly loss and focused on strong revenue growth in
the food delivery firm's first earnings as a publicly listed
company.  urn:newsml:reuters.com:*:nL4N2PH3A4
    Hinduja Global Solutions  HGSL.NS  climbed 5% as it sold its
healthcare services arm for $1.2 billion to funds associated
with Baring Private Equity Asia, while Carlyle-backed animal
healthcare firm SeQuent Scientific  SEQU.NS  slid 14.6% after
reporting a drop fall in June-quarter profit. urn:newsml:reuters.com:*:nL4N2PH2VM
    
($1 = 74.4200 Indian rupees)


($1 = 74.4210 Indian rupees)

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
India, U.S. seeing fund inflows after China crackdown - Mark
Mobius     urn:newsml:reuters.com:*:nL4N2PI0OU
Mirae Asset Global Investments bullish on China equities after
recent correction -CIO     urn:newsml:reuters.com:*:nL4N2PH1GU
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Rama Venkat in Bengaluru; Editing by Aditya Soni)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))