In early trade on Tuesday, Indian stocks lacked a clear direction as market participants awaited further information on U.S. President-elect Donald Trump's policy plans and anticipated key U.S. inflation data expected later in the week to gain insights into the Federal Reserve's interest rate path.
The main market indicators reflected slight declines; the S&P/BSE Sensex fell by 25 points, settling at 79,471, while the NSE Nifty index slipped by 5 points to 24,136.
In individual stock movements, Hindalco saw an approximate 1% increase following an impressive 78% year-on-year surge in second-quarter profits. Contrarily, NMDC's shares fell by 4%, even after the announcement of a 2:1 bonus issue. ONGC experienced a marginal decrease despite an impressive 17% rise in quarterly earnings.
Shree Cement's stock declined by 1% amid an 81% drop in quarterly profits. Reliance Industries' shares showed minimal movement after the Supreme Court dismissed the Securities and Exchange Board of India's (SEBI) appeals against penalties imposed on the company and its leaders. Meanwhile, Britannia Industries fell 1.4% after the fast-moving consumer goods (FMCG) giant posted a 9% decrease in consolidated net profit for the second quarter.
