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Sensex, Nifty Slip Into Red On India-US Trade Deal Uncertainty
(RTTNews) - Indian shares were slightly lower in early trade on Thursday despite firm cues from global markets.
With U.S. President Donald Trump announcing trade deals with several countries, it remains uncertain whether the 26 percent reciprocal tariff announced for India will come into effect from August 1, or will this deadline be extended.
As of now, an India-U.S. trade deal remains elusive due to disagreements on agriculture and diary.
The benchmark BSE Sensex was down 256 points, or 0.3 percent, at 82,461 while the broader NSE Nifty index dipped 60 points, or 0.2 percent, to 25,160.
Infosys fell about 1 percent despite Q1 earnings coming in above expectations. Persistent Systems plunged 8 percent on mixed Q1 results.
Nestle India rose about 1 percent while Bajaj Finance and SBI Life Insurance were moving lower ahead of their earnings results due today.
Bajaj Housing Finance was down 1 percent despite posting 21 percent growth in first-quarter net profit.
CMS Info Systems tumbled 2.7 percent. The banking logistics and technology player announced a strategic acquisition in the Vision AI space, with an investment of approximately Rs. 80 crores.
Dr Reddy's Laboratories gained 1.4 percent after reporting a marginal rise in Q1 net profit.
Tata Consumer Products climbed 1.2 percent on reporting a 15 percent year-on-year increase in its Q1 net profit.
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