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Sensex, Nifty volatile in opening trade; airline stocks jumps up to 5%

In the 30-share pack Sensex, Infosys was the biggest gainer, up 1.99 per cent.

ETMarkets.com|
Last Updated: May 22, 2020, 09.55 AM IST
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Sectoral matrix on the NSE was mixed. Nifty Media was the biggest gainer with 1.78 per cent jump while Nifty PSU Bank also saw a similar climb.
NEW DELHI: Domestic equity indices gyrated between gains and losses in Friday's opening trade ahead of the address by RBI Governor Shaktikanta Das at 10 am today. Weak cues from Asian peers amid escalation of tensions between the US and China kept the indices under pressure.

China, which is set to impose new national security legislation on Hong Kong, drew flak from the US and a warning from President Donald Trump that Washington would react "very strongly" against the attempt to gain more control over the former British colony.

At 9.50 am, BSE flagship Sensex was down up 20 points at 30,956 while NSE benchmark Nifty was flat at 9,106.

In the 30-share pack Sensex, Infosys was the biggest gainer, up 1.99 per cent atRs 685. Reliance Industries added a per cent at Rs 1,452 after its subsidiary Jio Platforms grabbed its fifth cheque from KKR. SBI, Tech Mahindra, Hero Moto, Titan and HUL were among other blue chip gainers.

On the other hand, Tata Steel led the losers in the pack, sliding 2.22 per cent to Rs 277.30. ITC, which had surged 7 per cent on Thursday, saw profit booking and dropped about 2 pe cent to Rs 185. NTPC, Powergrid, HCL Tech and ONGC were among other top losers.

Shares of airline companies continued their rally as they prepared to resume operations. SpiceJet spiked 4.89 per cent to Rs 45.05 while its rival Interglobe Aviation added 1.68 per cent to Rs 994.65.

Sectoral matrix on the NSE was mixed. Nifty Media was the biggest gainer with 1.78 per cent jump while Nifty PSU Bank also saw a similar climb. Nifty IT and Nifty Realty were among other gainers. Meanwhile, Nifty Metal, Nifty Private Bank and Nifty Financial Services slid up to 2 per cent.

Globally, Hong Kong shares tumbled after Beijing moved to impose a new security law on the city after last year's pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties.

Hong Kong's Hang Seng index fell 3.7 per cent to a seven-week low, helping to pull down MSCI's broadest index of Asia-Pacific shares outside Japan 1.2 per cent. Japan's Nikkei slipped 0.25 per cent, while South Korea's Kospi fell 0.7 per cent.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
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