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Market Update: India Stocks Flat in Early Trade
The BSE SENSEX traded almost flat in early deals on Thursday, as traders continued to follow reports that some states, that are already battling lower tax revenues while also gearing up for more expenses linked to COVID-19 vaccinations, reportedly will seek federal compensation. Market participants also closely monitor US weekly jobless claims and GDP data later in the day, along with personal consumption expenditure report on Friday as investors try to gauge the US economic recovery amid rising inflation pressures. On the pandemic front, India on Thursday posted 211,298 new coronavirus cases over the last 24 hours, bringing the total caseloads to 27.37 million. Meantime, India’s Zydus Cadila has sought regulatory approval for clinical trials of its antibody cocktail to treat mild COVID-19, as the US FDA has given emergency use authorizations to similar treatments developed by Vir Biotechnology and GlaxoSmithKline. Tech Mahindra Ltd added 1.9%, while Bajaj Finance Ltd shed 1.1%. [/s2If]
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