Sensex, Nifty Open Lower On Hawkish Fed Remarks
(RTTNews) - Indian shares opened lower on Thursday, tracking higher U.S. Treasury yields and a stronger dollar after the Federal Reserve said it expects interest rates to remain higher for longer.
The benchmark S&P BSE Sensex dropped 318 points, or half a percent, to 66,483 while the broader NSE Nifty index was down 86 points, or 0.4 percent, at 19,815.
Among the top losers, TCS, ICICI Bank, Bajaj Auto, LTIMindTree and HCL Technologies fell 1-2 percent.
SJVN plunged 8.3 percent. The government is selling up to 4.9 percent stake in the company via an offer for sale.
HDFC Bank fell about 1 percent and Reliance Industries was down half a percent to extend losses from the previous session.
Fino Payments Bank slumped 4.6 percent after it appointed KPMG to investigate complaints of a fraud in the company.
Adani Green Energy edged up slightly after France's TotalEnergies agreed to invest $300 million to form a joint venture (JV) with the company on a project related to renewable energy.
Zydus Lifesciences rose 1.1 percent after receiving the establishment inspection report (EIR) from the U.S. FDA for its facility at Pharmez in Ahmedabad with nil observations.
Cipla was little changed after its subsidiary InvaGen's manufacturing plant received five inspectional observations in Form 483 from the U.S. health regulator.
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