Indian shares fluctuated before ending marginally lower on Thursday as downbeat earnings updates from prominent companies offset signs of slowing inflationary pressures in the United States.
The benchmark S&P BSE Sensex ended the session down 35.68 points at 61,904.52 while the broader NSE Nifty index settled down 18.10 points at 18,297.
Broader indexes outperformed, with the BSE mid-cap and small-cap indexes closing up 0.4 percent and 0.7 percent, respectively.
Adani Group stocks were in focus after reports that Adani Ports would prepay USD 130 million of debt ahead of schedule.
Adani Enterprises jumped 5.1 percent, Adani Ports rallied 2.5 percent, Adani Transmission added 3.1 percent and Adani Power rose 1.9 percent.
Asian Paints jumped 3.3 percent after its fourth-quarter numbers beat Street estimates almost on all fronts.
Dr Reddy’s Laboratories plunged 6.9 percent after its fourth-quarter profit lagged Street’s estimates.
Larsen & Toubro slumped 5.1 percent after veteran industrialist AM Naik decided to step down as Non-Executive Chairman of the construction giant.
The dollar traded higher in international markets, weighing on rupee.
Gold was marginally lower in European trade while oil prices rose about 1 percent on signs of strong fuel demand in the United States.
Market Analysis
Sensex, Nifty End Choppy Session Marginally Lower
2023-05-11 10:32:31
