Sensex, Nifty Give Up Early Gains In Cautious Trade

Indian shares were moving in a narrow range on Friday, as hawkish comments from a top U.S. Federal Reserve official and signs of continued labor market tightness led some investors to worry about more aggressive interest rate hikes in the United States.

The benchmark S&P BSE Sensex was down 86 points, or 0.1 percent, at 61,664, giving up early gains. The broader NSE Nifty index was down 30 points, or 0.2 percent, at 18,314.

Vedanta gained 1 percent after announcing it is considering a third interim dividend for FY23.

FSN E-Commerce Ventures jumped 3.4 percent after Canada Pension Plan Investment Board bought over 1.70 crore shares of the company for Rs.299 crore.

PTC India Financial Services soared 5 percent on reporting over five-fold gold in FY22 net profit.

Fortis Healthcare advanced 1.2 percent. Market regulator SEBI has asked Malaysia's IHH Healthcare to proceed with its proposed offer to acquire a 26.1 percent stake in the company after obtaining an order from the Delhi High Court.

Kirloskar Brothers rose nearly 2 percent after it called for an extraordinary general meeting to consider the demand for a forensic audit of the affairs of the company by an external agency.

Equitas Small Finance Bank was little changed as the RBI allowed DSP Investment Managers Private to buy a nearly 10 percent in the company for an undisclosed amount.

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