Sensex, Nifty Decline In Cautious Trade Ahead Of Powell Testimony
(RTTNews) - Indian shares opened lower on Tuesday as investors awaited Fed Chair Jerome Powell's testimonies and the Bank of England's rate decision due this week for clues on the monetary policy path ahead.
The benchmark S&P BSE Sensex was down 263 points, or 0.4 percent, at 62,904 in early trade, while the broader NSE Nifty index was down 65 points, or 0.4 percent, at 18,690.
Bajaj FinServ, Bajaj Finance and Hindustan Unilever all fell over 1 percent while SBI Life and HDFC Life were up around 2 percent each.
Adani Enterprises gained 1.3 percent on fund raising reports.
InterGlobe Aviation rose over 1 percent on reports that IndiGo has placed an order for 500 Airbus A320 family aircraft in a record deal.
Tata Power climbed 1.1 percent after it unveiled plans to invest Rs. 12,000 crore to meet its capital expenditure needs this fiscal.
IIFL Securities plunged nearly 14 percent. Capital market regulator SEBI has barred the company from taking new clients for two years.
Shriram Finance was little changed after private equity firm TPG sold its 2.65 percent in the non-banking financial company in an open market transaction.
HDFC fell nearly 1 percent after it sold 90 percent of its total holding in its subsidiary HDFC Credila Financial Services Ltd to Baring PE and ChrysCapital for Rs 9,060 crore.
Rail Vikas Nigam fell 2.6 percent and BHEL lost about 1 percent on reports that the Indian Railways may be forced to reissue its tender for the manufacture and maintenance of 120 Vande Bharat sleeper trains.
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