Indian Shares Edge Lower In Lackluster Trade

(RTTNews) - Indian shares opened on a weak note Wednesday due to lingering uncertainty over the Indo-U.S. trade deal and continued foreign fund outflows.

The benchmark BSE Sensex was down 240 points, or 0.3 percent, at 84,898 in early trade while the broader NSE Nifty index dipped 104 points, or 0.4 percent, to 25,934.

TMPV, Maruti Suzuki India, BEL, NTPC and Hindustan Unilever all fell over 1 percent. IRFC was little changed after entering into a loan agreement with Sumitomo Mitsui Banking Corporation to secure an external commercial borrowing (ECB) worth ¥300 million.

India Cements fell about 1 percent after its subsidiaries in Indonesia and Singapore signed an agreement to sell their entire stake in PT Adcoal Energindo, Indonesia, for a proposed value of IDR 10 billion (about Rs. 5.4 crore).

Canara Bank declined 1.2 percent after raising Rs. 3,500 crore by issuing Basel III-compliant additional tier I bonds.

Motilal Oswal Financial Services was down 1.5 percent on news it would raise up to Rs. 300 crore through a non-convertible debentures issue.