Indian shares open flat
The Bombay Stock Exchange (BSE) logo is seen under a bull statue at the entrance of their building in Mumbai, India January 30, 2018. PHOTO:REUTERS
Indian shares were little changed at open on Wednesday, while metal stocks fell on weak global metal prices amid a strong US dollar and weak demand outlook in top consumer China.
The NSE Nifty 50 index (.NSEI), opens new tab shed 0.04% to 23,708.55 at 9:26 a.m. IST and the S&P BSE Sensex (.BSESN), opens new tab rose 0.09% to 78,124.13. The Sensex rose about 0.15% to record high in early trade.
Highest-weighted financials (.NIFTYFIN), opens new tab and private banks (.NIFPVTBNK), opens new tab, which powered the benchmarks to all-time high closing levels in the previous session, were also flat.
Metals (.NIFTYMET), opens new tab dropped 1%, with Vedanta (VDAN.NS), opens new tab, down 3%, the top percentage loser on the metal index.
Investors awaited key US inflation data due this week.
A firmer greenback makes dollar-denominated metals more expensive to holders of other currencies.