Sensex, Nifty Subdued On Trade Jitters

(RTTNews) - Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.

The benchmark S&P/BSE Sensex was down 109 points, or 0.1 percent, at 83,427 in early trade while the broader NSE Nifty index slid by 35 points, or 0.1 percent., to 25.441.

Automakers such as Tata Motors and Mahindra & Mahindra were down around 1 percent each.

Tata Consultancy Services and Tata Elxsi were moving lower ahead of their Q1 results announcements.

Dr Reddy's Laboratories fell about 1 percent on going ex-dividend. NCL Industries declined 2.3 percent on reporting a 5 percent year-on-year fall in cement production.

Indosolar jumped 5 percent on news of stake sale by promoter Waaree Energies.

RailTel Corporation of India climbed 1.4 percent on receiving a work order worth Rs 17.5 crore from the General Administration Department (GAD), Chhattisgarh.

Blue Dart Express gained 1 percent after launching its Rakhi Express Campaign, offering up to 50 percent off for festive shipments.