Sensex, Nifty Drift Lower In Early Trade

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(RTTNews) – Indian shares opened a tad lower on Thursday despite positive global cues and upbeat earnings from IT giants.

The benchmark S&P BSE Sensex dropped 145 points, or 0.3 percent, to 49,346 in early trade, while the broader NSE Nifty index was down 47 points, or 0.3 percent, at 14,517.

Hindustan Aeronautics soared 8 percent after the government cleared the procurement of 73 “improved” Tejas fighters and 10 trainers for Rs. 46,898 crore.

Infosys and Wipro tumbled around 3 percent despite both reporting strong revenue growth and a jump in profits for the December quarter, beating street estimates.

SAIL lost more than 9 percent after the government decided to sell up to 20.65 crore shares or 5 percent of total equity of the company through an Offer for Sale.

IndusInd Bank jumped 2.6 percent after market regulator SEBI provided an additional two weeks’ time to promoters of the bank for payment of the balance amount on the warrants worth Rs 2021 crore.

Bastion Balance Seoul, Korea.