Sensex, Nifty Modestly Lower In Early Trade

(RTTNews) - Indian shares opened on a muted note Thursday amid lingering concerns around inflation and interest rates.

The benchmark S&P BSE Sensex was down 100 points, or 0.2 percent, at 66,019 in early trade while the broader NSE Nifty index was down 24 points, or 0.1 percent, at 19,692.

Multi Commodity Exchange of India (MCX) rallied 3.2 percent after it announced the launch of a new web-based commodity derivatives platform (CDP) on October 3.

Vedanta rose 1.2 percent on reports that it was nearing a deal to demerge businesses into several listed entities.

Nazara Technologies gained 1 percent after it received a tax demand notice for Rs 2.83 crore.

NBCC India climbed 1.2 percent after it announced the sale of commercial built-up space in World Trade Centre, New Delhi through e-auction.

Oberoi Realty added 0.7 percent. The company has entered into an agreement to redevelop a prime land parcel spanning approximately 13,450 square meter in Tardeo, Mumbai City.

Vodafone Idea fell 3.3 percent after TRAI data showed the telecom company lost over 1.3 million subscribers in July this year. Bharti Airtel and Reliance Industries were seeing modest gains.

Aurobindo Pharma edged down slightly after its subsidiary Auro Vaccines inked a license pact with Hilleman Laboratories Singapore Pte Limited to make and commercialize a pentavalent vaccine candidate used in children's vaccination.

Oil explorer ONGC and state-run oil marketing companies such as BPCL, HPCL and IOC were little changed even as oil extended overnight rally to inch closer to the $100-a-barrel mark on news that stockpiles at the largest U.S. storage hub dropped to critical levels.