Sensex, Nifty Drift Lower As Earnings Disappoint
(RTTNews) - Indian shares were slightly lower in early trade on Thursday, tracking mixed global cues and due to disappointment on the earnings front.
The benchmark S&P/BSE Sensex was down 213 points, or 0.3 percent, at 79,868 while the broader NSE Nifty index was down 78 points, or 0.3 percent, at 24,357.
Hindalco plunged 5.3 percent on concerns over demand outlook for its subsidiary Novellis.
Hindustan Unilever slumped more than 5 percent after reporting Q2 results that fell short of market expectations.
TVS Motor Company fell 2.5 percent as it missed Q2 profit view on higher costs.
SBI Life Insurance plummeted 4.4 percent after its Q2 net profit rose 39.3 percent year-on-year, but sill missed analysts' estimates.
ITC dropped 1 percent ahead of its earnings results due today.
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