Shares seen lower; RIL watched

Thu, Nov 5 10:03 AM

Indian shares are expected to start shakily on Thursday, taking cues from lower Asian peers and investor caution following wide swings over the past two days.

Energy giant Reliance Industries will be in focus as the hearing in its gas dispute with Reliance Natural Resources is expected to resume during the day.

On Wednesday, one of the judges withdrew from the Supreme Court hearing, citing potential conflict of interest.

S.P. Tulsian, an independent consultant, said the market's rebound on Wednesday after a sharp slide the previous day had unnerved investors.

People are cautious. This kind of volatility has created confusion for investors, he said.

On Wednesday, the 30-share BSE index closed up 3.29 per cent at 15,912.13, after falling 8.4 per cent over the previous six sessions.

Asian shares were trading lower with the MSCI's measure of markets other than Japan dropping 0.7 per cent by 0325 GMT, while Japan's Nikkei was down by more than a per cent.

The Nifty India stock futures in Singapore were trading 0.6 per cent lower, indicating the domestic market would start down.

Inside News

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