Indian shares fell slightly on Thursday as investors stayed on the sidelines ahead of assembly elections in Karnataka. Surging oil prices on rising tensions in the Middle East and a weakening rupee amid sustained selling by foreign investors also served to keep underlying sentiment cautious.

The benchmark BSE Sensex closed lower by 73.08 points or 0.21 percent at 35,246.27, while the broader Nifty index ended down 25.15 points or 0.23 percent at 10,716.55.

Power Grid Corp, Cipla, Tata Motors, Indiabulls Housing Finance and Dr Reddy's Laboratories fell 2-3 percent, while BPCL, Tech Mahindra, Eicher Motors, Bharti Airtel and ONGC jumped 1-3 percent.

Welspun Enterprises soared 11 percent on posting three-fold jump in quarterly profit. Indian Bank plummeted 8.7 percent and Federal Bank slumped 11.5 percent on posting lackluster Q4 results.

Globally, Asian stock ended broadly higher as rallying oil prices helped lift energy stocks and U.S. President Donald Trump said he would announce the site for a summit with North Korean leader Kim Jong Un within three days.

European stocks were little changed in cautious trade ahead of the Bank of England's interest rate decision.

by P2PNews Staff Writer

editorial@p2pnews.com

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