Sensex, Nifty Marginally Lower In Early Trade

(RTTNews) - Indian shares were subdued on Monday despite Wall Street bouncing back to a higher close on Friday.

Traders await the FOMC meeting minutes, key speeches by Fed officials and the June jobs report this week for clues about the long-term outlook for the U.S. economy.

The benchmark S&P BSE Sensex slipped 40 points, or 0.1 percent, to 52,870 in early trade, while the broader NSE Nifty index was down 17 points, or 0.1 percent, at 15,735.

HDFC and HDFC Bank were little changed after stock exchanges gave approval for their mega merger.

Maruti Suzuki India dropped 0.7 percent on news it will phase out vehicles that run purely on petrol over the next 7-10 years.

Vedanta dropped half a percent on saying it expects its semiconductor business turnover to be in the range of USD 3 to 3.5 billion.

TVS Motor declined 1.6 percent and Mahindra & Mahindra gave up 1.7 percent while Hero MotoCorp rose 0.8 percent after unveiling their monthly sales figures.

Muthoot Finance rallied 2.2 percent after it received RBI nod to open 150 new branches.

TCS fell 1.3 percent ahead of its earnings results due later this week.

IndusInd Bank jumped 2.5 percent after providing its quarterly update.