Indian Markets Edge Lower; Rupee Gains Versus Dollar

Indian stock markets were trading slightly lower on Thursday. The S&P BSE Sensex dropped 11 points, or 0.04 percent at 26287.60. The Nifty50 fell 0.12 percent to 8101.95.

The Indian rupee rose around 5 paise to trade at 67.89 versus the U.S. dollar on Thursday.

Shares of Voltas dropped over 7 per cent on Thursday trade after the company reported results for its September quarter. The company on Wednesday posted consolidated net profit of Rs 72.11 crore for the quarter, versus a year-ago net profit of Rs 67.26 crore.

Direxion Daily India Bull 2X Shares INDL fell 5 percent to close at $42.56 on Wednesday, while PowerShares India Portfolio (ETF) PIN dropped 1.77 percent to close at $18.83.

US stock markets closed mixed overnight, with the Dow Jones Industrial Average dropping 0.29 percent, the S&P500 index falling 0.16 per cent, and the Nasdaq Composite rising 0.36 percent.

US WTI crude futures on the NYMEX dropped 0.24 percent to trade at $45.99 per barrel.

Top market movers among the BSE index are as follows

• KSS Ltd. rose about 33 percent to 0.20 INR.
• FCS Software Solutions Ltd. rose 20 percent to 0.30 INR.
• Raj Rayon Industries Ltd. shares surged 17 percent to 0.35 INR.
• Vijay Shanthi Builders Ltd. shares gained around 15 percent to 12.80 INR.

• Sunil Hitech Engineers Ltd. dropped around 20 percent to 241.60 INR.
• Energy Development Company Ltd. fell around 20 percent to 115.00 INR.
• Oasis Tradelink Ltd. slipped 20 percent to 68.10 INR.
• Ankush Finstock Ltd. shares declined 20 percent to 11.21 INR.