RSS Sensex, Nifty Struggle For Direction Ahead Of Macro Data; IT Stocks Surge

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 RSS Sensex, Nifty Struggle For Direction Ahead Of Macro Data; IT Stocks Surge

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On Thursday, Indian stock markets fluctuated as investors awaited key reports on domestic consumer price index (CPI) inflation and industrial output, both scheduled for release later in the day.

In early trading, the S&P BSE Sensex saw a modest increase of 27 points, reaching 81,553, while the broader NSE Nifty index experienced a slight decline of 7 points, settling at 24,635.

Information Technology stocks were on the rise, with companies such as Infosys, TCS, Wipro, and Tech Mahindra posting gains between 1% and 2%.

Reliance Power surged nearly 5% following the announcement of a new subsidiary focused on the renewable energy sector. Reliance Infrastructure also rose by 2%, even as the Supreme Court issued a contempt notice to its subsidiary, Delhi Airport Metro Express Pvt Ltd, regarding unresolved dues.

Jubilant Foodworks saw a decline of over 3%. This movement followed its decision to acquire a 40% stake in Hindustan Coca-Cola Holdings.

Shares in the State Bank of India dropped by 0.5%. The bank, which is state-owned, has invited counter bids via a Swiss challenge auction process for parties interested in acquiring Jaiprakash Associates' bad debt, totaling Rs 52,074 crore.

Lastly, Shriram Finance experienced a minor decrease after it announced the completion of its sale of the entire stake in its housing finance subsidiary.

The material has been provided by InstaForex Company - www.instaforex.com
 
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