Indian shares open flat, Zee Entertainment jumps

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Indian shares open flat, Zee Entertainment jumps

The Bombay Stock Trade developing is witnessed from a facade in Mumbai, India, Could 16, 2018. REUTERS/Francis Mascarenhas

BENGALURU, Sept 22 (Reuters) – Indian shares opened flat on Wednesday as gains in tech stocks countered losses in some banking stocks, while media large Zee Entertainment soared right after obtaining board approval for its merger with Sony Pictures Networks India.

The blue-chip NSE Nifty 50 index (.NSEI) was down .08% to 17,547.95 by 0400 GMT and the benchmark S&P BSE Sensex (.BSESN) fell .06% to 58,969.54.

Buyers awaited financial plan cues from the U.S. Federal Reserve’s two-day assembly ending later in the day.

Media shares (.NIFTYMED) have been the ideal accomplishing sector, boosted by a 10% soar in Zee Leisure (ZEE.NS). read much more

Tech shares (.NIFTYIT) rose .8%, with Mindtree Ltd (MINT.NS) jumping about 3%.

Personal financial institutions (.NIFPVTBNK) had been down, with Housing Progress Finance Corp (HDFC.NS) shedding above 1% to be the biggest loser on the Nifty 50.

Broader Asian markets rose following personal debt-laden China Evergrande (3333.HK) reported it would pay out some bond fascination due on Thursday, allaying fears of an imminent and messy collapse.

Reporting by Soumyajit Saha in Bengaluru Modifying by Subhranshu Sahu

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