Sensex, Nifty Open Lower In Cautious Trade; Auto Stocks Surge
(RTTNews) - Indian shares opened lower on Thursday as higher bond yields and looming uncertainty over the ceasefire deal in Gaza overshadowed solid trade figures from China.
The benchmark S&P BSE Sensex was down 200 points, or 0.3 percent, at 73,267 in early trade while the broader NSE Nifty index was down 59 points, or 0.3 percent, at 22,243.
Larsen & Toubro tumbled 3.6 percent after posting in line Q4 results.
Hindustan Petroleum Corporation and Bharat Petroleum Corporation both fell over 1 percent ahead of their earnings results.
Automakers were seeing broad-based gains. Hero MotoCorp soared nearly 6 percent while Maruti Suzuki India, Eicher Motors, Bajaj Auto and Mahindra & Mahindra were up 1-3 percent.
Kotak Mahindra rose 0.6 percent on reports it is ramping up technology transition.
Bank of Baroda rallied 2.3 percent as the RBI lifted a ban on onboarding customers through bob World, the lender's mobile banking application.
Canara Bank added 1.5 percent on reporting an 18 percent rise in Q4 net profit.
Tata Power fell more than 2 percent after reporting Q4 results below estimates.
TVS Motor Company soared 5 percent after quarterly profit rose 18 percent year-on-year.
SBI gained half a percent ahead of its earnings release.
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