Sensex, Nifty Open Lower On Weak Global Cues

(RTTNews) - Indian shares were subdued on Thursday, tracking weak cues from global markets as Chinese inflation data disappointed and reports suggested that U.S. President-elect Donald Trump was mulling a national economic emergency declaration to provide legal justification for a series of universal tariffs on allies and adversaries.

The benchmark S&P/BSE Sensex was down 208 points, or 0.3 percent, at 77,939 in early trade while the broader NSE Nifty index dropped 68 points, or 0.3 percent, to 23,621.

Among the prominent decliners, Larsen & Toubro, ONGC, Trent, UltraTech Cement and Apollo Hospitals Enterprise fell 1-2 percent.

Tata Motors fell over 1 percent after its subsidiary Jaguar Land Rover (JLR) reported a nuanced performance this quarter.

NTPC Green Energy declined 2 percent as it formed a new joint venture to develop and manage renewable energy parks in Rajasthan and explore green hydrogen projects. Zee Media tumbled 3 percent on fund raising reports.

Among those that gained, Kotak Mahindra Bank and Hindustan Unilever both rose about 2 percent.

Manappuram Finance soared 4.2 percent as RBI lifted supervisory restrictions on its microlending arm, Asirvad Microfinance.

Hindalco gained 1 percent after its subsidiary Novelis announced an offering of $500-million senior unsecured notes to refinance debt.

TCS rose about half a percent ahead of its earnings announcement.