Sensex, Nifty Little Changed; FMCG And Auto Shares Surge
Indian shares were little changed in early trade on Wednesday despite weak cues from global markets.
Both the benchmark S&P BSE Sensex and the NSE Nifty index traded flat at 59,717 and 17,812, respectively.
Automakers and FMCG firms topped the gainers list, with Nestle India, Eicher Motor, Hero MotoCorp, Hindustan Unilever and Mahindra & Mahindra all rising over 1 percent.
Financials, IT and oil stocks were seeing modest losses.
Central Bank of India soared 9 percent after the RBI took out the lender from the so-called PCA framework.
SpiceJet tumbled 3.3 percent on reports that the airline has decided to send around 80 pilots on leave without pay to 'rationalize' costs.
Yes Bank jumped 4 percent after its board approved the sale of $6 billion stressed debt to private equity firm JC Flowers.
Ambuja Cements and ACC fell about 1 percent each on news that the Adani Group has pledged shares valued at about $13 billion in the two cement firms.
Hero MotoCorp gained 1 percent after it partnered with HPCL to establish charging infrastructure for electric vehicles (EVs) in India.
Tata Steel added 1 percent on fund raising reports.
Zydus Lifesciences rose half a percent after launching Lenalidomide capsules in the United States.
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