Nifty edges lower in cautious trade

Reuters Market Eye - The BSE Sensex and the Nifty fall around 0.6 percent each, heading for their third consecutive session of falls.

Traders are cautious ahead of expiry of monthly derivatives contracts at the end of the session.

Oil and gas stocks fall as government defers decision on gas price hike: Oil and Natural Gas Corp falls nearly 3 percent while Reliance Industries is down over 2 percent.

Jindal Steel and Power falls nearly 8 percent, adding to its 10.5 percent fall in the previous session after the Supreme Court cancels coal block allocation.

However, technology stocks gain after global rival Accenture says it expects better profitability this fiscal year.

 

(Reporting by Indulal PM)