Markets flat, Yes Bank, Indiabulls Real Estate rise

Shares started trade largely flat, while Yes Bank, Indiabulls Real Estate rise, HCL Technologies
Last Updated 24 December 2019, 04:54 IST

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained.

Indian stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers.

Optimism that a U.S.-China trade deal would revive exports and boost corporate earnings helped Wall Street rise to record closing highs on Monday, but Asian shares darted in and out of losses on Tuesday amid a holiday lull.

The NSE Nifty 50 index was up 0.03% at 12,266.60 by 0434 GMT, while the S&P BSE Sensex ticked up 0.02% to 41,648.96.

"(The Nifty is) likely to stay range bound between 12,150 to 12,350 zones while stock specific action (is) likely to continue in near term," analysts at Motilal Oswal wrote in a report.

On the Nifty 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4% rise, while HCL Technologies Ltd fell the most.

Shares in Yes Bank, down 26% so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2%.

Indiabulls Real Estate's stock climbed 1.4%. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

(Published 24 December 2019, 04:48 IST)

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