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Sensex, Nifty Subdued In Early Trade; Auto And IT Stocks Lead Losses

2024-06-07MyfxbookMyfxbook
Indian shares were subdued in early trade on Tuesday as strong manufacturing data from the U.S. dented hopes of an early rate cut by the Federal Reserve.
Sensex, Nifty Subdued In Early Trade; Auto And IT Stocks Lead Losses

(RTTNews) - Indian shares were subdued in early trade on Tuesday as strong manufacturing data from the U.S. dented hopes of an early rate cut by the Federal Reserve.

The benchmark S&P BSE Sensex was down 50 points, or 0.1 percent, at 73,964 while the broader NSE Nifty index was down 12 points at 22,449.

Among the prominent decliners, Hero MotoCorp, TCS, Wipro, Bajaj Finance and ICICI Bank fell 1-2 percent.

Infosys shed 0.6 percent on receiving a demand notice of Rs. 341 crores from the income tax department.

On the positive side, Adani Ports rallied 2.1 percent on brokerage upgrades. IndusInd Bank, HDFC Bank, Bajaj Auto and BPCL rallied 1-3 percent.

Aditya Birla Fashion soared 12 percent after it decided to demerge Madura business into a separate listed entity.

Anant Raj climbed 2 percent after an announcement that it has achieved pre-sales of Rs. 4,150 crores for its projects at Sector 63A Gurugram, Haryana.

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