On February 26, 2016, a broker reacts while trading at his computer station at a stock brokerage firm in Mumbai, India. REUTERS/File Photo/Shailesh Andrade Reuters, BENGALURU, July 2 – On Friday, advances in Hero MotoCorp and Reliance Industries were countered by losses in heavyweight information technology sectors, leaving Indian equities flat. The blue-chip NSE Nifty 50 index (.NSEI) was down 0.02 percent at 15,676.25 by 0400 GMT, while the benchmark S&P BSE Sensex (.BSESN) was down 0.04 percent to 52,299.41. While reducing COVID-19 instances, relaxing of restrictions, and an increase in vaccines have helped the indices reach new highs recently, they’ve suffered this week due to a lack of new domestic triggers, and are on track to lose more than 1% this week. Hero MotoCorp (HROM.NS), India’s largest motorcycle manufacturer, climbed as much as 1.6 percent after reporting stronger June sales. Reliance Industries (RELI.NS), a conglomerate, gained 0.7 percent, continuing its rebound after a five-day losing skid. The Nifty IT index (.NIFTYIT) was down 0.5 percent, heading for a second straight session of losses. The Nifty Bank index (.NSEBANK) gained 0.1%. In its Financial Stability Report released on Thursday, the Reserve Bank of India stated that the pandemic’s impact on bank balance sheets has not been as bad as previously anticipated. Anuron Kumar Mitra in Bengaluru contributed reporting, and Uttaresh edited the piece. The Thomson Reuters Trust Principles are our standards./n
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