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Sensex, Nifty Flat Amid China Tensions; Virus Cases Cross 5 Million

BENGALURU: Indian shares opened flat on Wednesday amid signs of a protracted standoff with China on the countries’ disputed border and the country’s coronavirus tally crossing the 5-million mark.

Investors also awaited the outcome of the U.S. Federal Reserve’s two-day policy meeting later in the day.

The blue-chip NSE Nifty 50 index rose 0.1% to 11,533.00 and the benchmark S&P BSE Sensex 0.14% to 39,097.67 by 0347 GMT. Both the indexes closed 0.7% higher in the previous session.

Total cases of the novel coronavirus in India surpassed 5 million on Wednesday, with a single-day jump of 90,123 infections, according to health ministry data.

The Nifty Bank Index was down 0.21%, with ICICI Bank Ltd being among the top drags on the Nifty 50.

Most broader Asian markets rose on Wednesday, extending a rally driven by upbeat Chinese and U.S. economic data.

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Source: News18