Alpha Trading Hub

Indian shares edge up in volatile trade, metals gain

Indian shares edged up marginally on Tuesday in choppy trade after a weak start, trailing rest of Asia.

The NSE Nifty 50 index (.NSEI) opened down 0.7% but recouped losses and was up 0.2% at 17,529.4 as of 0411 GMT, while the S&P BSE Sensex (.BSESN) rose 0.1% to 58862.95.

The Nifty metal index (.NIFTYMET) was up 1% while IT stocks declined with the Nifty IT index (.NIFTYIT) down 1.3%.

Asian stocks declined after a spike in European energy prices stoked recession fears. U.S. Treasury yields topped 3% on Monday, aiding bearish sentiment.

“Early fall in other Asian indices could prompt investors to extend their profit-booking,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Source By: Reuters