BENGALURU, Dec 26 (Reuters) – Indian shares were little changed on Thursday, ahead of the expiry of December derivative contracts and in the absence of new catalysts to propel large-cap stocks which have pushed markets up 12% in 2019.
The NSE Nifty 50 index was down 0.01% at 12,213.20 by 0425 GMT, while the S&P BSE Sensex was flat at 41,461.25.
Indian markets have moved little during a truncated trading week due to the Christmas holiday, with the sharpest move coming on Tuesday – when markets fell about 0.4% – spurred by profit-booking.
“If you look at the top 7-8 stocks … the news flow isn’t that great to stimulate prices further higher,” said Saurabh Jain, assistant vice president at SMC Global Securities Ltd in New Delhi. “Some consolidation or correction is inevitable.”
Among global equities, European stocks on Tuesday saw fresh record gains as did the Nasdaq on Wall Street in a year-end rally spurred by hopes of a U.S.-Sino Phase 1 trade deal.
Meanwhile, India’s…
