Indian shares steady ahead of global central bankers meet

Indian shares ended little changed on Thursday as gains in IT stocks such as Infosys offset losses in realty shares.

sensex
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India. (SOURCE:REUTERS) Reuters

Indian shares ended little changed on Thursday as gains in IT stocks such as Infosys offset losses in realty shares.

The S&P BSE Sensex gained 0.09 percent at 31,596 while the broader NSE Nifty advanced 0.05 at 9,857. Indian financial markets will remain shut on Friday for a public holiday.

Among the other top index gainers: Lupin rose 3.9 percent, Sun Pharma gained 3.1 percent, Infosys added 2 percent while Cipla was up 2.5 percent.

Infosys, the country's second-largest software exporter, was among the top gainers on speculation that co-founder Nandan Nilekani might make a comeback as the company's head.

Liquor stocks gained: United Spirits rose 3.9 percent, Pioneer Distilleries gained 2.6 percent, Globus Spirits added 11 percent, Tilaknagar Industries rose 2 percent and Radico Khaitan added 1.9 percent.

S&P BSE Realty index lost 0.8 percent, dragged lower by Phoenix, Oberoi Realty and Sobha.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Asian stocks were on the hook ahead of the Jackson Hole central-bank meeting. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent.

U.S. President Donald Trump's latest remarks, which included threat to shut down the U.S. government and talk of ending the North American Free Trade Agreement gripped financial markets overnight.

On Wednesday, U.S. stock indexes closed between 0.3 percent and 0.4 percent lower.

Markets are focusing on the annual conference of global central bankers hosted by the Kansas City Federal Reserve Bank at Jackson Hole, Wyoming.

Fed Chair Janet Yellen and European Central Bank President Mario Draghi will be among the officials addressing the summit, which kicks off later today.

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