Indian shares traded slightly lower in early trade on Thursday amid broadly weak cues from global markets and firmer crude oil prices.
The benchmark S&P/BSE Sensex dropped 175 points, or 0.3 percent, to 60,500 while the broader NSE Nifty index was down 80 points, or half a percent, at 17.791.
Adani Power fell 5 percent after its Q3 profit slumped 96 percent from last year.
Adani Ports plunged 7.2 percent while Adani Total Gas and Adani Transmission both lost around 5 percent.
Oil marketing companies BPCL, HPCL and IOC were moving lower as oil extended gains for a fourth day on optimism over China demand and signs of crude loading disruptions in Turkey.
Tata Consultancy Services edged up slightly on securing an over £600 million (about $723 million) contract from U.K.’s Phoenix Group.
Larsen & Toubro -gained 0.7 percent. The Ministry of Defense has signed a contract with the company for the procurement of 41 indigenous modular bridges, worth over Rs 2,585 crore.
Cummins India soared 9 percent after posting better than expected financial results for Q3FY23.
LIC and IRCTC were little changed ahead of their earnings results due today.
Sensex, Nifty Drift Lower On Weak Global Cues
2023-02-09 04:20:00
