Indian Shares Reverse Early Gains Amid F&O Expiry
(RTTNews) - Indian shares reversed early gains to end lower on Thursday, with rising oil prices and caution ahead of Federal Reserve Chairman Jerome Powell's speech Friday at the Jackson Hole economic conference weighing on sentiment.
The benchmark S&P BSE Sensex tumbled 710 points from the day's highs to end the session down 310.71 points, or 0.53 percent, at 58,774.72.
The broader NSE Nifty index fell 82.50 points, or 0.47 percent, to 17,522.45 amid the expiry of F&O August series derivative contracts.
Axis Bank, IndusInd Bank, Cipla, Bajaj Finance and Adani Ports dropped 1-2 percent in the Nifty pack, while Divis Laboratories, Hindalco and Shree Cement all rose about 1 percent.
NDTV Ltd shares extended gains for a second day, climbing 5 percent to reach the upper circuit limit of Rs 407.60 on the National Stock Exchange following Adani Group's attempt to acquire the television news channel.
Global cues were mostly positive, while oil held recent gains on mounting supply tightness concerns.
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