Sensex, Nifty edge lower as IT, energy stocks drag [Reuters]
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Source: Reuters
Sensex, Nifty erase early losses; IT stocks sustain pressure | Reuters 3 Min Read (Reuters) - Indian shares recovered from early losses to trade slightly higher on Friday, with gains in the financial and consumer sectors eclipsing losses in large-cap IT stocks. The broader Nifty, which fell as much as 0.5 percent in early trade, was up 0.16 percent at 10,615.8 as of 0545 GMT. The benchmark Sensex was 0.12 percent higher at 35,280.59. The indexes were set to finish the trading week, truncated due to local holidays, about half a percent higher. In broader Asia, stocks pulled back from one-month high as the U.S. Federal Reserve appeared poised to deliver another interest rate hike next month. “We don’t have much of a positivity from Asia...volatility is also slightly up, being the last working day of the week,” said Anand James, chief market strategist at Geojit Financial Services. Indian shares appeared to shrug off weak leads from its neighbours, led by Asian Paints Ltd’s stock that ro
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