Equities trade volatile, Jet stocks slide further by 10 pc

Equity benchmark indices opened with a positive bias on Tuesday but see-sawed during early hours in the absence of fresh catalysts.

At 10:15 am, the BSE S & P Sensex was up 148 points at 39,109 while the Nifty 50 climbed up 39 points to 11,711.

Most sectoral indices at the National Stock Exchange were in the green but Nifty FMCG, metal and PSU bank showed thin losses.

Among stocks, Jet Airways nosedived another 10 per cent to Rs 61.50 per share, a day after lenders led by State Bank of India decided to seek resolution for the grounded airline under the Insolvency and Bankruptcy Code (IBC).

IndusInd Bank was up 1.7 per cent, Power Grid 1.6 per cent, Vedanta 1.4 per cent and Cipla 1.3 per cent. Infosys, HDFC, Hero MotorCorp, ICICI Bank and Larsen & Toubro also showed some gains.

However, Indiabulls Housing Finance, Asian Paints, Hindustan Lever and State Bank of India traded in the negative territory.

Meanwhile, Asian stocks saw muted gains as markets entered a holding pattern ahead of this week's key Federal Reserve decision.

Shares ticked higher in Japan, South Korea and Australia. Hong Kong and Shanghai equity gauges were also in the green.

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