Sensex, Nifty Marginally Lower In Early Trade
(RTTNews) - Indian shares opened a tad lower on Wednesday, snapping a four-session winning streak, as caution set in ahead of another likely 75-basis-point rate hike by the U.S. Federal Reserve.
The benchmark S&P BSE Sensex slipped 40 points to 61,083 in early trade while the broader NSE Nifty index was down 5 points at 18,140.
Bharti Airtel and Apollo Hospitals Enterprise both fell about 2 percent while Sun Pharma, Tata Steel, Tech Mahindra and Hindalco climbed 1-3 percent.
Karnataka Bank soared 18 percent after posting record high quarterly net profit.
LIC Housing Finance slumped 11 percent despite reporting a 23 percent rise in Q2 net profit.
Tech Mahindra advanced 1.7 percent despite reporting a 4 percent year-on-year fall in consolidated net profit for the September quarter.
Adani Ports & SEZ shed 0.7 percent even as it reported a 65 percent jump in its net profit for the July-September quarter.
UPL rose 0.7 percent as it posted a 28.4 percent rise in quarterly profit.
ONGC, BPCL, HPCL and IOC all were moving higher after the government slashed the windfall tax on crude oil and raised the special additional excise duty on the export of aviation turbine fuel.
Eicher Motors, TVS Motor Company, Hero Moto Corp and Maruti Suzuki India all fell around 1 percent after reporting their October sales figures.
Grasim Industries gained 1 percent on fund raising reports.
Voltas fell nearly 2 percent after it swung to a quarterly loss.
NCC rose 1.4 percent. The company said it has received two new orders worth Rs 1,056 crore in October.
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