Sensex, Nifty Marginally Lower In Early Trade

Indian shares were subdued on Wednesday after another round of talks to raise the U.S. government’s debt ceiling ended with no progress.

The benchmark S&P BSE Sensex was down 48 points at 61,933 in early trade, while the broader NSE Nifty index was down 16 points at 18,332.

SpiceJet soared 7 percent after hiking salaries for pilots.

NMDC gained half a percent and Biocon rallied 3.3 percent after reporting encouraging earnings results.

JSW Energy edged up slightly despite reporting a 68 percent fall in its Q4 net profit.

Ashok Leyland was marginally lower on reporting a 17 percent fall in Q4 net profit.

Adani Enterprises was little changed while Adani Transmission climbed 5 percent and Adani Green Energy added 4.3 percent on reports that Rajiv Jain-led GQG Partners is looking to further invest $1 billion in three of the companies.

Bajaj Electricals was moving lower despite reporting a 34 percent jump in quarterly profit.

Mahindra & Mahindra fell about 1 percent on reports it will sell a 3.2 percent stake or 1.2 crore shares in Mahindra CIE Automotive Ltd through a block deal soon.