Indian shares adrift in morning trade after six sessions of rally

Indian shares adrift in morning trade after six sessions of rally

04 Jun 2020 11:49 AM
 

India shares seesawed between losses and gains on Thursday, following a more than 1,000-point rally in the last six sessions, as gains in IT and metals shares were offset by losses in financials.

The NSE Nifty 50 bluechip index was up 0.1% at 10,070 as of 10:33am, while the S&P BSE Sensex was up 0.05% at 34,124.

The Nifty 50 has risen 5.2% so far this week, after a similar rally last week.

The Nifty banking index was mostly flat after gaining 8.4% this week, following an 11.7% surge last week.

The Nifty IT index rose 1%, while the metals index gained 0.9%. Vedanta Ltd was the top gainer in the Nifty 50 index, rising 4.60%.

Among individual stocks, Housing Development Finance Corp Ltd and Kotak Mahindra Bank Ltd were top drags on the Nifty 50 index, falling 1.8% and 2.3%, respectively.