BENGALURU, June 2 (Reuters) - Indian shares ended little
changed for a second straight session on Wednesday as investors
refrained from making big bets due to concerns over high
valuations following a recent rally.
The blue-chip NSE Nifty 50 index rose 0.01% to
15,576.20 at close, while the benchmark S&P BSE Sensex
slipped 0.16% to 51,849.48.
Both the indexes gained more than 6% last month as a steady
decline in daily COVID-19 cases lifted investor sentiment.
However, concerns remain as several economists have warned
about the impact of the second coronavirus wave on economic
growth in the current quarter.
Dragging the Nifty 50 on Wednesday, cigarettes-to-hotels
conglomerate ITC Ltd fell 3% after it warned that
pandemic-driven restrictions could cause supply chain
disruptions in the near future.
Losses in heavyweight financial and information technology
stocks also weighed on the indexes, with top private-sector
lender HDFC Bank and software services firm Infosys
Ltd falling 0.5% and 0.6%, respectively.
Countering those declines, conglomerate Reliance Industries
Ltd and Tata Steel Ltd gained 1.5% and 2.1%,
respectively. Reliance shares have risen for six straight
Auto components maker Motherson Sumi Systems Ltd
closed 13.4% higher after it reported an almost fourfold jump in
Globally, stock markets hovered near record highs as
investors cheered evidence of a sustained rebound in global
economies after strong factory data from the United States and
(Reporting by Rama Venkat in Bengaluru; Editing by Aditya Soni)