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Sensex, Nifty trade flat; Yes Bank, Tata Motors drops

Equity benchmark indices opened flat on Tuesday amid mixed global cues. Investors remained cautious ahead of the Union Budget, which will be presented on July 5.

The Sensex was up 17 points at 39,703, while the Nifty was up 6 points to trade at 11,872 levels.

UPL, ONGC, and Grasim are among major gainers on the indices, while  Yes Bank, Tata Motors, and Sun Pharma are the main losers.

Shares of Cox & Kings dropped 5% after it defaulted on principal payment of Rs50cr on its commercial paper.

Shares of ICRA fell for the third consecutive trading session and fell 4.5% on the NSE. ICRA asked its Managing Director and Chief Executive Officer Naresh Takkar to go on leave with immediate effect in connection to an inquiry forwarded by Sebi.

Shares of Sadbhav Infra jumped 6% after the company’s board approved the sale of entire stake in nine SPV comprising of seven toll road infra assets and two annuity infra assets to lndlnfravit Trust at a deal valued at Rs6,611.2 cr.

The Indian rupee opened marginally lower at 68.97 per dollar vs. previous close 68.95.

The Volatility gauge, India VIX was up 0.30% at 14.64.

The most active stocks on the NSE are Yes Bank, Adani Power, and Zee.

Meanwhile, oil prices drifted lower as weak global data raised concerns about future demand for the commodity despite a positive boost from OPEC's decision to extend supply cuts until next March.

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