Indian shares were marginally lower on Thursday, tracking mixed cues from global markets and amid concerns surrounding elevated valuations in the broader market.
The benchmark S&P BSE Sensex dropped 75 points, or 0.1 percent, to 72,683 in early trade, while the broader NSE Nifty index was down 17 points, or 0.1 percent, at 21,981.
Bajaj Auto, LTIMindTree, NTPC, JSW Steel and Tata Steel fell 1-3 percent in the Nifty pack while Mahindra & Mahindra, Larsen & Toubro, Adani Ports, Hero Moto Corp and Adani Enterprises were up 1-3 percent.
Tata Motors declined 1.2 percent on news it plans to open a ‘cutting-edge’ vehicle manufacturing facility in Tamil Nadu.
ITC edged up slightly, a day after British American Tobacco sold a 3.5 percent stake in the company through the open market.
Vedanta advanced 1.3 percent on reports it would appeal against SEBI which levied Rs. 77.6 crore penalty for delay in paying dividends to company’s earlier shareholder Cairn Energy.
Reliance Industries rose 0.7 percent after it agreed to acquire 13.01 percent stake of Paramount global in Viacom18 for Rs. 4,286 crores.
Market Analysis
Sensex, Nifty Marginally Lower In Early Trade
2024-03-14 04:34:56
