Nifty subdued as China border tensions weigh

  • by THO
  • 1 year ago
  • news
  • 1

BENGALURU, Sept 2 (Reuters) – Indian shares were little changed on Wednesday, pressured by banking stocks, as heightened tensions at India’s disputed border with China countered upbeat global sentiment.

The blue-chip NSE Nifty 50 index was up 0.02% at 11,473.10, while the benchmark S&P BSE Sensex slipped 0.06% to 38,877.73 as of 0354 GMT.

India’s foreign ministry on Tuesday evening accused China of further “provocative actions” on the disputed Himalayan border while commanders from both sides were holding talks on Monday to defuse tensions between the countries. Mumbai, the Nifty bank index fell 0.61%, while the Nifty auto index was down 0.46%. Power Grid Corporation of India Ltd was the top laggard on the Nifty.

Broader Asian markets were higher following buoyant U.S. manufacturing indicators and a rally in U.S. technology companies. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25%. MKTS/GLOB

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