Sensex, Nifty Open Lower Ahead Of Powell's Speech
(RTTNews) - Indian shares opened on a weak note Friday, tracking weak global cues and amid the release of RBI's MPC meeting minutes showing that the RBI remains committed to bring down inflation to the 4 percent target.
Investors also reacted to mixed comments from Fed officials and awaited Fed Chair Jerome Powell's Jackson Hole speech later in the day for directional cues.
The benchmark S&P BSE Sensex was down 230 points, or 0.4 percent, at 65,023 while the broader NSE Nifty index was down 64 points, or 0.3 percent, at 19,322.
SpiceJet dropped half a percent. The Delhi High Court has asked the airline and its CMD Ajay Singh to pay former promoter Kalanithi Maran Rs. 100 crore by September 10.
Jio Financial Services lost 5 percent to extend recent losses post listing.
Hindalco, Larsen & Toubro, IndusInd Bank and Dr Reddy's Laboratories fell 1-2 percent while Bajaj Finance and Bajaj FinServ rose over 1 percent each.
Reliance Industries edged down slightly on reports that it is likely to sell an additional 8-10 percent stake in its retail arm Reliance Retail Ventures.
Shoppers Stop plummeted 9.5 percent after Venugopal G Nair resigned as Managing Director & CEO of the company.
Astra Microwave Products rallied 3.8 percent on bagging orders worth Rs 158 crore from DRDO, ISRO and DPSU's.
KPI Green Energy soared 7 percent as it received commissioning certificates from Gujarat Energy Development Agency for 4.10MW wind-solar hybrid power project at Bharuch in the state.
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