Sensex, Nifty Drift Lower On Weak Global Cues
(RTTNews) - Indian shares traded slightly lower in early trade on Thursday amid broadly weak cues from global markets and firmer crude oil prices.
The benchmark S&P/BSE Sensex dropped 175 points, or 0.3 percent, to 60,500 while the broader NSE Nifty index was down 80 points, or half a percent, at 17.791.
Adani Power fell 5 percent after its Q3 profit slumped 96 percent from last year.
Adani Ports plunged 7.2 percent while Adani Total Gas and Adani Transmission both lost around 5 percent.
Oil marketing companies BPCL, HPCL and IOC were moving lower as oil extended gains for a fourth day on optimism over China demand and signs of crude loading disruptions in Turkey.
Tata Consultancy Services edged up slightly on securing an over £600 million (about $723 million) contract from U.K.'s Phoenix Group.
Larsen & Toubro -gained 0.7 percent. The Ministry of Defense has signed a contract with the company for the procurement of 41 indigenous modular bridges, worth over Rs 2,585 crore.
Cummins India soared 9 percent after posting better than expected financial results for Q3FY23.
LIC and IRCTC were little changed ahead of their earnings results due today.
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