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Sensex, Nifty Decline Paring Morning Gains As India-China Tensions Escalate
Indian benchmark indices pared all early morning gains and traded in the red, with Nifty and Sensex both down by as much as 0.5%. This is after media reports suggested that India-China tensions escalated after Chinese troops 'carried out provocative military movements in Eastern Ladakh to change the status quo', who howvever were blocked by Indian soliders.
Sector wise Bank Nifty gained more than 2 percent and the broader indices too gained nearly half a percent.
Among the top Nifty gainers are Bharti Infratel, Adani Ports, Tata Motors, Wipro and ONGC while losers include JSW Steel, Bharti Airtel, Bajaj Auto, Sun Pharma among others.
Shares of RIL surged 2% while Future Retail jumped 20% after the oil to telecom conglomerate acquired retail and wholesale business together with the logistics and warehousing business of the Future Group.
Asian markets hitting a fresh two-year high were last trading in the green with Japan's Nikkei up 1.75%, Hong Kong's Hang Seng gaining 1.36%.
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