Sensex, Nifty Open Lower; IT Stocks Drag
(RTTNews) - Indian shares opened lower on Tuesday, tracking weak cues from global markets amid concerns about U.S. President-elect Donald Trump's protectionist policies and the outlook for interest rates.
The benchmark S&P/BSE Sensex was down 498 points, or 0.6 percent, at 77,749 in early trade while the broader NSE Nifty index slipped 128 points, or half a percent, to 23,517.
Tech stocks such as HCL Technologies, TCS, Tech Mahindra and Infosys all fell around 2 percent.
Adani Enterprises fell 2.2 percent after it agreed to sell its entire 44 percent stake in the FMCG joint venture Adani Wilmar.
Adani Green Energy tumbled nearly 3 percent on news that CEO Amit Singh is stepping down to take a new role in the group.
RVNL rallied 2.5 percent as it emerged as the lowest bidder for a Rs. 137-crore Central Railway project.
Easy Trip Planners plunged 9 percent on reports that promoter Nishant Pitti is looking to sell up to a 14.21 percent stake in the company via block deals.
Mazagon Dock Shipbuilders declined 1.5 percent despite winning a contract worth Rs 1,990 crore from the Defence Ministry.
Lupin edged down slightly after it acquired Huminsulin in India from Eli Lilly and Company to strengthen its diabetes portfolio.
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