Indian Shares Fluctuate In Early Trade
(RTTNews) - Indian shares were subdued in early trade on Wednesday after two consecutive heavy selloff-sessions on concerns over rising crude oil prices in international markets, a weakening rupee and continued foreign fund outflows.
The benchmark BSE Sensex slipped by 289 points, or 0.4 percent, to 74,269 in choppy trade while the broader NSE Nifty index was down 43 points, or 0.2 percent, at 23,336.
InterGlobe Aviation, Maruti Suzuki India, Axis Bank, Eternal, SBI, NTPC, Bajaj Finance and Power Grid Corp fell 1-3 percent while Asian Paints climbed 2.5 percent and Adani Ports added 1.4 percent.
Bharti Airtel, Tata Motors and TVS Motor Company all were moving lower ahead of their Q4 earnings results due today.
Torrent Power plummeted 6 percent, Tata Power Company slumped 4.5 percent and Dr Reddy's Laboratories was marginally lower after posting disappointing fourth-quarter results.
Oil India gained 2 percent after the government reduced royalty rates on crude oil and natural gas production from multiple categories of fields.
Vodafone Idea rallied 2.1 percent ahead of a board meeting to consider a fundraising proposal.
Rail Vikas Nigam rose 1.3 percent after it emerged as the lowest bidder for an EPC contract worth Rs. 221.3 crore.
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