Indian shares were marginally lower on Wednesday after having hit fresh record highs in the previous session on the back of encouraging current account data.
The benchmark S&P/BSE Sensex was down 50 points at 78,003 in early trade while the broader NSE Nifty index was down 20 points at 23,701.
Among the prominent decliners, Mahindra & Mahindra, Tata Steel, Apollo Hospital Enterprise, Bajaj Auto and Hindalco fell 1-2 percent.
Ultratech Cement rallied 2.2 percent after revising its offer for UAE-based RAKWCT.
Raymond jumped 3.2 percent after it announced plans to open over 100 stores of its ethnic wear brand ‘Ethnix by Raymond’.
Adani Ports rose half a percent after replacing Wipro in the Sensex as part of the index rejig.
Vodafone Idea added half a percent on reports that Vodafone Group plans to invest up to Rs 3,000 crore in the company following the Indian telco’s successful Rs 18000-crore follow-on public offering.
ICICI Bank was marginally higher after it surpassed UBS to become the 18th largest bank globally.
NTPC edged up 0.6 percent on fund raising reports.
Alkem Laboratories dropped 1.2 percent after promoter Seema Singh sold a 0.3 percent stake in the company for Rs 177 crore through an open market transaction.
Market Analysis
Sensex, Nifty Marginally Lower In Early Trade
2024-06-26 04:29:30
