Indian shares flat in choppy trading; Maruti gains

Author of the article: BENGALURU — Indian shares were largely unchanged in volatile trading on Monday, as gains in heavyweight information technology stocks and top carmaker Maruti Suzuki offset losses in banks. The blue-chip NSE Nifty 50 index fell 0.03% to 17,283.70 and the benchmark S&P BSE Sensex was down 0.07% at 57,826.07 by 0408…
Indian shares flat in choppy trading; Maruti gains

Author of the article:

BENGALURU — Indian shares were largely unchanged in volatile trading on Monday, as gains in heavyweight information technology stocks and top carmaker Maruti Suzuki offset losses in banks.

The blue-chip NSE Nifty 50 index fell 0.03% to 17,283.70 and the benchmark S&P BSE Sensex was down 0.07% at 57,826.07 by 0408 GMT. The market was shut on Friday for a holiday.

Both the indexes added about 4% last week on the back of a pullback in oil prices, further easing of COVID-19 curbs in the country and hopes for progress in Russia-Ukraine peace talks.

But the mood was downbeat in Asia on Monday due to worries sparked by continued fighting in Ukraine.

In Mumbai trading, the Nifty Bank Index fell 0.45%, while the Nifty IT index added 1.2%.

Maruti Suzuki rose 3% after the company’s majority-owner Suzuki Motor unveiled plans to invest $1.37 billion in its India factory to make electric vehicles and batteries.

Japanese Prime Minister Fumio Kishida over the weekend also announced plans to invest $42 billion in India over five years.

(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Aditya Soni)

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