Sensex, Nifty Fall On Weak Global Cues
Indian shares opened lower on Thursday to snap three sessions of gains as investors reacted to a grim outlook on the U.S. economy from the Federal Reserve and the suspension of a U.S. extradition treaty with Hong Kong.
The benchmark S&P BSE Sensex dropped 309 points, or 0.80 percent, to 38,305 in early trade, while the broader NSE Nifty index was down 87 points, or 0.76 percent, at 11,321.
Dr Reddy's Laboratories was marginally higher, a day after launching a Covid-19 treatment drug in India.
CSB Bank gained 1.8 percent after its quarterly net profit more than doubled.
Muthoot Finance tumbled 3.7 percent despite reporting 59 percent jump in its net profit for the June quarter.
PNB Housing Finance added 1.6 percent on fund raising reports.
Titan Company declined 1.5 percent. The company said that it is fully hedged with gold on lease and gold bought from stock market.
Yes Bank climbed 3.2 percent after selling its entire stake in CG Power & Industrial Solutions.
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