Indian shares volatile; Tata Steel climbs ahead of results

Indian shares were little changed on Monday, as gains in miners such as Tata Steel was tempered by selling pressure in software makers.

india trader
Reuters

Indian shares were little changed on Monday, as gains in miners such as Tata Steel was tempered by selling pressure in software makers.

At 0605 GMT, the S&P BSE Sensex rose 0.06 percent to 32,343 while the broader NSE Nifty gained 0.12 percent to 10,078.

Technology stocks led the losses. Infosys fell 1.3 percent, Tata Consultancy Services lost 1.5 percent while HCL Tech declined 0.5 percent.

Repco Home Finance fell 10 percent after the company reported lower-than-expected earnings.

Housing Development & Infrastructure fell 4 percent, its third straight session of fall after the National Company Law Tribunal admitted petition of insolvency proceedings against the company's unit.

Gujarat Narmada Valley Fertilizers & Chemicals declined 3 percent after the company said its net profit in the June quarter slumped 72 percent.

S&P BSE Metal Index gained 0.9 percent. Tata Steel advanced 3 percent ahead of its June quarter earnings.

Among other notable gainers, Jaiprakash Associates gained 18 percent after the company reported a profit in the June quarter after 12 consecutive quarter losses.

Wockhardt gained 2 percent after the drugmaker said it got U.S. Food and Drug Administration's approval for an antibiotic injection.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.

Meanwhile, stocks in Asia gained, taking their cue from Wall Street after a better-than-expected U.S. jobs report.

The Labor Department's closely watched employment report showed on Friday that U.S. nonfarm payrolls rose by 209,000 jobs last month, and June's employment gain was revised higher.

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