Sensex, Nifty Edge Lower After Recent Gains; Nestle Tumbles On Q4 Results
(RTTNews) - Indian shares opened lower on Friday, mirroring weak global cues on fears of more rate hikes by the U.S. Federal Reserve.
The benchmark S&P/BSE Sensex dropped 160 points, or 0.3 percent, to 61,160 in early trade after three consecutive sessions of gains.
The broader NSE Nifty index was down 34 points, or 0.2 percent, at 18,002. Nestle India declined 2.7 percent despite reporting a 62 percent jump in Q4 net profit.
Apollo Hospitals Enterprise, Wipro, IndusInd Bank and Cipla all fell around 1 percent.
On the positive side, UltraTech jumped 2.5 percent, Grasim added 1.7 percent and Hero MotoCorp rose over 1 percent.
Adani Green Energy rallied 2.4 percent on reports that it will announce the refinancing plan by June-end.
HDFC fell about 1 percent after raising $3 billion in the country's largest privately placed corporate bond issue.
IOC gained half a percent after it clarified on its initial pact for hiring Adani Group's port at Gangavaram in Andhra Pradesh for LPG imports.
Pricol edged up slightly on the back of multiple block deals.
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