Oct 16 Reuters Indian shares moved in a narrow range on Wednesday in the absence of fresh triggers, with investors weighing up some disappointing results from marquee companies and the exodus of foreign funds against the drop in crude oil prices.

The Nifty 50 index edged down 0.01 at 25,050.2 points as of 1037 a.m. IST, trading in a 100point range. The SP BSE Sensex inched 0.05 lower to 81,781.

The more domesticallyfocussed smallcaps and midcaps were flat.

Uncertainties in the Middle East and locally, rich valuations, continued foreign outflows and tepid September quarter earnings expectations are contributing to keep investors in waitandwatch mode, said S Krishnakumar, director at Lion Hill Capital.

Heavyweight Reliance Industries39; disappointing results weighed on the Nifty and Sensex on Tuesday, but the broader markets were lifted by weak global crude prices, which is a positive for net oil importers like India.

The oilfocussed Reliance conglomerate rebounded 0.1 on the day, while oil marketing firm BPCL rose 0.6, extending gains to a fourth session as crude prices slid further overnight on demand concerns, before stabilising.

On the flip side, automaker Mahindra Mahindra was the biggest drag, sliding 2.3. Consumer major Nestle India declined 1.6, while IT major TCS fell 1.

Nestle India, as well as TCS39;s peers Infosys, Wipro and Axis Bank are among the Nifty components scheduled to report results this week.

Foreign investors have pulled out 7.9 billion from…