Sensex, Nifty See Modest Losses On Rate Jitters
Indian shares opened lower on Friday, as investors react to weak global cues and a falling rupee, which opened at a fresh record low of 81.06 per dollar.
The benchmark S&P BSE Sensex dropped 222 points, or 0.4 percent, to 58,897 in early trade, while the broader NSE Nifty index was down 75 points, or 0.4 percent, at 17,555.
IT, financials and metal stocks were among the worst hit, with Hindalco, HDFC Bank, HDFC, IndusInd Bank and Tech Mahindra losing 1-2 percent.
On the positive side, Cipla, Tata Steel and Apollo Hospitals all gained around 2 percent.
Mahindra & Mahindra Financial Services plunged 8 percent after the RBI barred the company from carrying out recovery or repossession activity through third-party until further notice.
Fortis Healthcare fell 2.5 percent after the Supreme Court ordered a forensic audit of its share sale to Malaysia's IHH Healthcare.
Hero MotoCorp gained 0.6 percent on the price hike buzz.
Lupin edged up slightly. The company has received approval from the U.S. health regulator to market a generic drug in the American market.
Market Analysis
Reprinted from RTTNews，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.