Sensex, Nifty Tad Lower Ahead Of RBI Rate Decision; Rupee Opens Flat
(RTTNews) - Indian shares were a tad lower on Friday, tracking weak global markets in the wake of rising concerns surrounding inflation and the growth outlook.
Investors also awaited the RBI's interest-rate decision later in the day for directional cues.
The benchmark S&P BSE Sensex dropped 190 points, or 0.3 percent, to 56,219 in early trade, while the broader NSE Nifty index was down 49 points, or 0.3 percent, at 16,769.
TCS, Mahindra & Mahindra, Tech Mahindra, Tata Motors and Asian Paints fell 1-2 percent in the Nifty pack, while Power Grid Corp, Hindalco and ONGC climbed 2-3 percent.
The rupee opened flat at 81.57 against the greenback after India reported a lower-than-expected current account deficit for the June quarter.
Hero MotoCorp edged down slightly on news it would invest $60 million in California-based Zero Motorcycles for developing electric motorcycles.
Adani Enterprises fell about 1 percent as it enters the Nifty 50 index replacing Shree Cement. Shares of the latter gained 1 percent.
Indian Oil Corp was little changed after it set up a subsidiary for treasury operations.
Adani Ports slipped half a percent after incorporating a unit for trading in aviation-related fuels.
Deepak Nitrite declined 1.2 percent after LIC raised its stake in the company.
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