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Indian Shares End Lackluster Session Lower

Indian shares ended a lackluster session slightly lower on Thursday. The last session of monthly expiry in the derivatives segment ended without fireworks, with benchmark Sensex ending a range-bound session down about 20 points or 0.12 percent at 17,131, while the broader Nifty index finished down 13 points or 0.25 percent at 5,189.

DLF, Sterlite, Bajaj Auto, Tata Power, Hindalco, Hero MotoCorp and Gail India fell 2-3 percent, while energy giant Reliance Industries ended a volatile session up 1.2 percent, software services exporter TCS gained 1.7 percent, steel maker Jindal Steel added 2 percent and state-run miner Coal India jumped 2.8 percent. Idea Cellular soared 4 percent ahead of its quarterly results after the market close.

On the global front, other Asian markets ended mostly higher, as a rally on Wall Street overnight on relief over the Fed's assessment of the U.S. economy and strong corporate earnings, especially Apple Inc's robust results, put eurozone jitters on the back burner. Having said that, gains were limited as a surprise 4.2 percent month-over-month drop in U.S. durable goods orders for March underscored the continuing concerns over global growth.

Following a two-day policy meeting, the Federal Reserve on Wednesday detailed no plans to extend its bond-buying program, but said it is prepared to do more to boost economic growth. Analysts interpreted the comments in a positive way given current economic uncertainties.

European stocks lost ground on Thursday following two sessions of strong gains, as traders reacted to mixed earnings. Also, Italian and Spanish bond yields rose and data showed eurozone economic confidence declined more than expected in March, prompting investors to avoid trading bets ahead of data due on U.S. initial jobless claims and pending home sales.

by RTT Staff Writer

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