Sensex, Nifty Marginally Lower In Early Trade, Axis Bank Surges Over 4%
Indian shares opened Thursday's session on a subdued note, tracking weak cues from other Asian markets after Meta Platforms disappointed investors with forecasts of higher expenses and lighter-than-expected revenue.
Caution on eve of the expiry of April series derivative contracts also weighed on sentiment.
The benchmark S&P BSE Sensex was down 66 points, or 0.1 percent, at 73,830 in early trade while the broader NSE Nifty index was down 15 points at 22,387.
Kotak Mahindra Bank slumped more than 10 percent after the RBI barred the bank from taking on new customers through its online as well as mobile banking channels and issuing fresh credit cards may also weigh on markets.
FMCG giant HUL dropped 1.4 percent after reporting flat quarterly profit amid sluggish sales.
HDFC Life, LTIMindTree and Tata Consumer Products fell 1-2 percent.
Axis Bank surged over 4 percent after its board approved raising of funds up to Rs. Rs. 55,000 crores.
SBI, Sun Pharma, HCL Technologies and Grasim all rose around 1 percent.
Reliance Industries edged up slightly after Jio Cinema slashed subscription prices for premium content.
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