Indian shares start FY23 on muted note, Hero MotoCorp slumps
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BENGALURU - Indian shares kicked off the new financial year on a quiet note on Friday, with gains in power company stocks helping marginally offset a sharp fall in two-wheeler maker Hero MotoCorp.
The NSE Nifty 50 index was up 0.11% at 17,484.45, as of 0406 GMT, and the S&P BSE Sensex rose 0.08% to 58,617.98. Both indexes were set to post weekly gains of about 2% each.
Asian peers were trading lower on Thursday with investors worried about the impact of the Russian-Ukrainian war and rising risks of recession. [MKTS/GLOB]
Power producer NTPC led the gains in the Nifty with a 5% jump, while power transmission firm Power Grid Corp climbed 3.6%. Hero MotoCorp slumped 6.3%.
Investors were awaiting March sales data from automakers on Friday.
(Reporting by Chris Thomas in Bengaluru)
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