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2 Minutes Read On December 11, 2018, a broker reacts while trading at his computer station at a stock brokerage firm in Mumbai, India. FILES/Francis Mascarenhas/REUTERS (Reuters) – BENGALURU (Reuters) – On Wednesday, Indian stocks were essentially flat as investors digested some early earnings reports while waiting for clarity on the central government’s planned cabinet upheaval. The benchmark S&P BSE Sensex was up 0.01 percent at 52,863.95, while the blue-chip NSE Nifty 50 index was down 0.02 percent at 15,814.80 at 0509 GMT. “Markets appear uncertain and are seeking guidance from stronger fundamentals… if a huge business like Tata Motors issues a profit warning, it causes significant panic among investors,” said Anita Gandhi, director of Mumbai’s Arihant Capital Markets. Tata Motors, the parent company of Jaguar Land Rover (JLR), warned on Tuesday that a key profit indicator at JLR would be affected in the second quarter, citing chip supply difficulties. Its stock fell more than 3% on Wednesday, adding to the 8.4 percent slump in the previous session. Titan Co’s jewelry sales, excluding bullion, increased by about 107 percent, according to the business. Tata Consultancy Services, which is slated to disclose earnings on Thursday, is expected to deliver solid results. Meanwhile, Prime Minister Narendra Modi’s government is expected to announce a restructuring of the union cabinet, with the council of ministers being expanded, according to media sources. According to Gandhi, institutional investors would be most interested in the rearrangement. Sobha Ltd, a real estate company based in Mumbai, rose 8% in Mumbai trade after reporting a higher total sales value for the first quarter. Normalcy is expected to be restored by the second half of FY2021-22, according to the building business. Asian stocks slumped as risk aversion bolstered Treasuries and the dollar, while investors anticipate hawkish minutes from the Federal Reserve’s June meeting. Shivani Singh contributed reporting from Bengaluru, and Uttaresh.V. edited the piece./nRead More

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