Indian shares opened lower on Thursday amid weak global cues and the anticipation of the monthly F&O expiry.
The benchmark S&P BSE Sensex fell by 315 points, or 0.4 percent, reaching 74,187 in early trading. This decline was influenced by rising U.S. bond yields following another disappointing Treasury auction.
The broader NSE Nifty index decreased by 108 points, or 0.5 percent, settling at 22,596.
Tata Steel declined by 3 percent after reporting a 64 percent drop in Q4 net profit, missing market expectations.
Other notable declines included Bajaj FinServ, Nestle India, JSW Steel, and Power Grid Corp, all of which lost around 2 percent.
Conversely, the banking sector showed resilience with Kotak Mahindra Bank, SBI, ICICI Bank, and Axis Bank registering gains between 0.7 percent and 1.2 percent.
Alkem Laboratories experienced a 3.6 percent decline despite announcing a three-fold increase in Q4 consolidated net profit.
In more positive news, One97 Communications surged by 5 percent following the announcement that its Paytm operator is not in discussions to sell a stake to the Adani Group.
Cummins India saw a modest rise of 0.5 percent after reporting a 50 percent increase in fourth-quarter net profit.
