Nifty Trades Higher, Global Markets Quiet

Benchmark indices were having a quiet trading session, as Asian markets too were trading flat and Dow Futures were marginally higher. The volatility was less, when compared to Tuesday, wherein the Sensex dropped as much as 800 points from peak levels.

The Nifty was trading with gains of 53 points, while the Sensex moved higher by144 points in early trade, once again breaching the 34,000 points mark.

Shares in two-wheeler major Hero MotoCorp was trading with losses, after the company reported a 15 per cent year-on-year drop in net profit at Rs 620.71 crore for the quarter ended March 31, 2020. The stock was last seen trading at Rs 2369.

Maruti Suzuki India shares were trading flat even after the company cut its production by 97.54 per cent in May at 3,714 units amid coronavirus pandemic.

Shares in Graphite India fell as much as 3 per cent, after he company reported a 94 per cent decline in its net profit at Rs 25 crore for the fourth quarter ended March 2020.

Banking stocks, which had fallen sharply on Tuesday saw a modest recovery in trade. The Bank Nifty was trading flat, though stocks like State Bank of India and HDFC Bank were among the gainers in trade.