Indiabulls Real Estate’s stock climbed 1.4% on plans to sell commercial assets to Blackstone Group.
The S&P BSE Sensex and NSE Nifty 50 indexes were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained.
The Sensex and Nifty 50 indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers.
Optimism that a US-China trade deal would revive exports and boost corporate earnings helped Wall Street rise to record closing highs on Monday, but Asian shares darted in and out of losses on Tuesday amid a holiday lull.
The Nifty was down 0.04 per cent at 12,258 by 11:36 am, while the Sensex declined 0.05 per cent to 41,620.
“(The Nifty is) likely to stay range bound between 12,150 to 12,350 zones while stock specific action (is) likely to continue in near term,” analysts at Motilal Oswal wrote in a report.
On the Nifty 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent rise, while HCL Technologies Ltd fell the most.
Shares in Yes Bank, down 26 per cent so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent.
Indiabulls Real Estate’s stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for Rs 810 crore.
Source: NDTV Profit
