Sensex, Nifty Marginally Lower In Cautious Trade
(RTTNews) - Indian shares were subdued on Wednesday as investors grappled with U.S.-India trade frictions.
U.S. Treasury Secretary Scott Bessent claimed some of the "richest families in India" are involved in the country's "unacceptable" "profiteering" from buying and reselling Russian crude, while reiterating plans to boost tariffs on the South Asian nation.
A day earlier, White House trade adviser Peter Navarro in a column for the Financial Times lambasted India's "Big Oil Lobby" for driving purchases of Russian oil.
The benchmark BSE Sensex was down 56 points at 81,588 in early trade, while the broader NSE Nifty index slid 25 points to 24,955.
BEL, Tata Motors, HCL Technologies and Bajaj Finance all fell around 1 percent while Bharti Airtel, Infosys, Eternal and NTPC were up more than 1 percent each.
Delta Corp fell over 2 percent, OnMobile Global lost 3 percent and Nazara Technologies slumped 5.6 percent after the Union Cabinet approved a bill aimed at regulating the rapidly growing digital gaming sector and putting a stop to online betting.
Aurobindo Pharma declined 3 percent after it emerged as the frontrunner to acquire Prague-based generic drug maker Zentiva for $5-5.5 billion.
CCL Products (India) lost 2 percent after it signed a pact to acquire a 26 percent stake in Mukkonda Renewables.
Lloyds Metals & Energy rose 1.2 percent as it emerged as the successful bidder for the Tandsi - III and Tandsi - III Extension coking coal mine located on the Madhya Pradesh-Maharashtra border.
GMR Power and Urban Infra advanced 1.6 percent on fund raising reports.
Japanese Market Slightly Higher
Australian Market Slightly Lower
U.S. Dollar Climbs Against Majors
TSX Hovers Near Record High; Materials, Energy Stocks Shine Again
Swiss Market Ends Weak
European Stocks Close On Mixed Note Again
Eurozone Consumer Confidence Weakens More Than Expected In August
