3 years, 6 months ago
Sensex, Nifty end flat as financials negate IT gains
India TodayIndian shares gave up early gains to close flat on Tuesday as heavyweight financials negated support from IT and metal stocks, while the country reported its lowest daily rise in COVID-19 infections in more than a month. The Nifty PSU Bank Index and the Nifty Bank Index ended 1.34% and 0.81% lower, respectively. Barclays, however, cut its full-year 2021-22 economic growth forecast for India, saying the toll from stringent lockdowns imposed to curb rising infections appeared to be bigger than its earlier expectation. Earlier this month, ratings agency Moody's Investors Service had said the second wave would slow India's near-term economic recovery and could weigh on longer-term growth dynamics.
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