Sensex, Nifty Open Lower On Fed Worries; ONGC And Oil India Slump

(RTTNews) - Indian shares opened lower on Tuesday as the dollar and U.S. Treasury yields surged in the wake of hawkish signals from Fed officials.

The benchmark S&P BSE Sensex fell 380 points, or 0.6 percent, to 65,449 in early trade, while the broader NSE Nifty index was down 123 points, or 0.6 percent, at 19,515.

ONGC slumped nearly 4 percent and Oil India declined 2.4 percent as Brent crude prices slipped to $90 a barrel, pressured by a stronger dollar and rising U.S. Treasury yields.

State-run oil companies like BPCL and HPCL were up half a percent and 1.1 percent, respectively.

Metal stocks such as Coal India and Hindalco fell 2-3 percent.

Maruti Suzuki India lost 2.2 percent after receiving a demand notice for Rs 139.3 crore from GST authorities.

Cipla fell about 1 percent after divesting a 51 percent stake in Saba Investment, UAE.

Hero MotoCorp dropped 1.3 percent after reporting 3 percent growth in monthly sales.

Vedanta rose nearly 2 percent after it announced a six-way vertical split for the listed entity to "unlock significant shareholder value."

Ultratech gained 0.8 percent on posting 16 percent growth in Q2 sales.

Adani Energy Solutions edged up slightly after commissioning the Khargar-Vikhroli transmission line to supply an additional 1,000 MW of power to Mumbai city.

Mahindra & Mahindra rose half a percent on reporting 20 percent sales growth in September.

Indus Towers added half a percent after it entered into a pact with IOC Phinergy for the deployment of 300 energy systems.

RVNL jumped 2.4 percent on bagging an order worth Rs 1,097 crore order from the HP State Electricity Board.

Tata Motors fell 1.2 percent after reports that its unit JLR plans to roll out eight battery electric vehicles in India by 2030.