FX.co ★ Sensex, Nifty Little Changed In Early Trade; IT Stocks Underperform

On Thursday, Indian shares exhibited minimal movement, influenced by weak signals from other Asian markets and in anticipation of the expiration of monthly derivative contracts.

Investor sentiment took a hit following U.S. chipmaker Micron Technology's disappointing revenue guidance, subsequent to its third-quarter profit figures falling short of analyst expectations.

In early trading, the benchmark S&P BSE Sensex saw a marginal increase of 5 points, reaching 78,679, while the broader NSE Nifty index edged up by 1 point to 23,867.

The IT sector showed weakness, with notable declines from Wipro, Tech Mahindra, and HCL Technologies, each losing approximately 1 percent. Larsen & Toubro also experienced a 1 percent drop, citing a shortage of 25,000-30,000 laborers across various projects.

Conversely, Reliance Industries rose by 1.3 percent to achieve a record high, following Jio's acquisition of the 1800 MHz spectrum in two circles during the latest auction.

India Cements saw a significant surge, gaining 11 percent on the announcement that UltraTech Cement plans to purchase up to 7.06 crore equity shares in the company at Rs. 267 per share.

PI Industries appreciated by 2.2 percent after declaring its intent to acquire Plant Health Care Plc for £32.8 million.

CSB Bank experienced a 4 percent increase after a block deal, whereas SBI saw a slight decline after raising Rs. 10,000 crores through a bond issue.