Indian Shares Open Lower On Sluggish Global Cues

(RTTNews) - Indian shares opened lower on Thursday, tracking weak cues from global markets and amid uncertainty over a trade deal with the United States.

The benchmark BSE Sensex was down 260 points, or 0.3 percent, to 84,296 in early trade, extending losses for a fourth consecutive session. The broader NSE Nifty index slipped 73 points, or 0.3 percent, to 25,744.

Selling was seen across the board, with BEL, Trent, Tata Steel, Maruti Suzuki India, NTPC, Mahindra & Mahindra, TMPV and Sun Pharma losing 1-2 percent.

Ola Electric tumbled 2.6 percent after promoter Bhavish Aggarwal offloaded an additional 4.2 crore shares in the company via open market transactions.

Indian Overseas Bank fell 1.2 percent, extending losses from the previous session after the government launched its offer for sale to divest up to 3 percent stake in the bank.

GMR Power dropped 1 percent on fund raising reports.

Cyient was marginally higher on news its Singapore arm will acquire a majority stake of over 65 percent in U.S.-based Kinetic Technologies for $93 million.