Sensex, Nifty open flat; IT, metal stocks in focus
Lenders to the airline will look for equity infusion from a new investor to replace Etihad, reported CNBC-TV18, quoting sources. The new investor is likely to be an investment fund.
Banks may initiate talks with few investment funds that conducted due diligence on the company. Also, lenders are looking at the option of asking Etihad, Naresh Goyal to pledge their shares. It is a flat start for the Indian indices with Nifty below 11,500 level.
The Sensex is up 9.74 points at 38373.21, while Nifty is up 0.90 points at 11533.30. About 391 shares have advanced, 235 shares declined, and 41 shares are unchanged.
Vedanta, Infosys, L&T, TCS and Axis Bank are the top gainers on the Sensex. Benchmark indices are flat in the pre-opening trading with above 11,550 marks.
The Sensex is up 17.16 points at 38380.63, while Nifty is up 22.30 points at 11554.70. The benchmark S&P 500 index ended little changed on Tuesday as investor optimism regarding the Federal Reserve's expected affirmation of its dovish policy stance was offset by reports of fault lines emerging in ongoing US-China trade negotiations. Trends on SGX Nifty indicate a flat opening for the broader indices in India, a fall of 9.5 points or 0.08 percent. Nifty futures were trading around 11,566.50-level on the Singaporean Exchange. Asian shares got off to a cautious start on Wednesday, holding close to six-month highs on hopes the US Federal Reserve will stick to a dovish stance and unveil a plan to stop cutting bond holdings later this year.
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