FX.co ★ Sensex, Nifty Marginally Lower In Early Trade

Indian stocks witnessed a slight decline on Thursday amid varied signals from global markets and concerns regarding the high valuations in the overarching market.

The flagship S&P BSE Sensex dipped by 75 points or 0.1%, settling at 72,683 during the early trading hours. Similarly, the NSE Nifty index witnessed a decrease of 17 points or 0.1%, standing at 21,981.

Among the Nifty constituents, Bajaj Auto, LTIMindTree, NTPC, Tata Steel, and JSW Steel experienced a fall between 1-3%. On the positive side, Mahindra & Mahindra, Larsen & Toubro, Adani Ports, Hero Moto Corp, and Adani Enterprises saw an upward movement of 1-3%.

Tata Motors registered a slight downfall of 1.2% following announcements of establishing a state-of-the-art vehicle manufacturing facility in Tamil Nadu.

ITC shares experienced a small rise, a day after British American Tobacco disposed of a 3.5% stake in the company via the open market.

Natural resources company, Vedanta, saw a rise by 1.3% following reports that it plans to contest against the Securities and Exchange Board of India (SEBI), which imposed a 77.6 crore INR penalty for the company's delay in dividend payments to its earlier shareholder, Cairn Energy.

Reliance Industries marked a 0.7% increment as it consented to acquire a 13.01% stake of Paramount Global in Viacom18 for a sum of 4,286 crores INR.