Sensex, Nifty Open Lower After Three Days Of Gains

(RTTNews) - Indian shares traded lower on Friday due to profit taking after recent gains supported by GST reforms and encouraging progress in India-U.S. trade discussions.

The benchmark BSE Sensex was down 398 points, or half a percent, at 82,615 in early trade, snapping a three-day winning streak. The broader NSE Nifty index fell 118 points, or half a percent, to 25,305.

Among the prominent decliners, Reliance Industries, Power Grid Corp, UltraTech Cement, HCL Technologies, Infosys, ICICI Bank and Titan Company all were down around 1 percent.

One Mobikwik Systems declined 1.4 percent after confirming that a technical glitch has led to unauthorized payouts.

Adani Enterprises surged 4 percent, Adani Ports rallied 2.1 percent and Adani Power jumped 7.3 percent after SEBI's investigation found no evidence that the diversified group used related parties to channel funds into its listed companies.

Vedanta gained 1 percent after it has been declared the preferred bidder for the Punnam Manganese block by the Andhra Pradesh Government.

Texmaco Rail and Engineering climbed 2.2 percent on securing an order worth Rs 86.85 crore from UltraTech Cement.

John Cockerill India added 2.6 percent after receiving a major contract from Tata Steel.

JSW Energy advanced 1.5 percent after its subsidiary JSW Neo Energy agreed to acquire 150 MW hydro project in Himacha Pradesh for Rs. 1,728 crore.