Sensex, Nifty End Lower In Cautious Trade

(RTTNews) - Indian shares fluctuated before ending modestly lower on Thursday as investors tracked corporate results, mixed global cues and the Assembly election results from Haryana and Maharashtra, which were not in sync with the exit polls.

The NDA was set to return to power in the state of Maharashtra while Haryana was headed for a hung assembly as per the latest trends.

The benchmark S&P BSE Sensex dropped 38.44 points, or 0.10 percent, to 39,020.39 while the broader NSE Nifty index ended down 21.50 points, or 0.19 percent, at 11,582.60.

HCL Technologies rallied 2.2 percent after the IT major reported a 4.4 percent year-on-year jump in quarterly net profit.

Infosys fell 2.4 percent amid speculation the company may part ways with CEO Salil Parekh if the evidence claimed by the whistleblowers substantiates the allegations.

Shares of telecom companies ended on a mixed note after the Supreme Court rejected telecom companies' appeal against government's definition of adjusted gross revenue.

Bharti Airtel climbed 3.2 percent while Vodafone Idea shares slumped as much as 25.7 percent.

Reliance Industries, the owner of Reliance Jio mobile network, surged 3 percent.

MTNL soared 4.3 percent on the news the government will merge the ailing firm with BSNL.

Inox Leisure soared 4.8 percent after the company reported strong Q2 earnings.

Globally, Asian markets ended on a mixed note as upbeat U.S. earnings results helped offset investor concerns surrounding Brexit and the U.S.-China trade war.

While luxury electric car maker Tesla reported a surprise third-quarter profit, software giant Microsoft's Q1 earnings were boosted by cloud and Office revenue.

European stocks rose in early trade as investors awaited the outcome of Mario Draghi's final policy meeting at the helm of the European Central Bank and his press conference later today.

No policy changes are expected after the ECB launched new stimulus measures just last month.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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