Indian Shares Follow Global Peers Lower
(RTTNews) - Indian shares opened lower on Friday, mirroring weak cues from global markets as uncertainty persists over Federal Reserve interest-rate cuts and stretched valuations in technology stocks.
The downside, however, remained limited after early leads showed the NDA crossing the half-way mark of 122 in Bihar Assembly elections.
The benchmark BSE Sensex was down 230 points, or 0.3 percent, at 84,249 while the broader NSE Nifty index fell by 78 points, or 0.3 percent, to 25,801.
LG Electronics India tumbled 3.5 percent after Q2 net profit fell 27 percent year-on-year.
Apollo Tyres lost 2 percent as it posted a 13 percent year-on-year decline in consolidated net profit for the September quarter.
Nippon Life India Asset Management fell 1 percent after its board approved a strategic partnership with Germany's DWS Group GmbH and Co. KGaA.
Bharat Dynamics soared 5 percent on securing a contract worth Rs. 2,095.70 crore from the Ministry of Defense.
Hero MotoCorp gained 0.7 percent on reporting a 16 percent year-on-year increase in its quarterly standalone net profit.
NBCC India rose about 1 percent on bagging a Rs. 340 crore contract.
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