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Sensex, Nifty Edge Lower As IT And Metal Stocks Drag
(RTTNews) - Indian shares opened lower on Wednesday as Fed rate cut optimism faded and investors looked for cues from this week's Fed minutes and U.S. jobs data.
The benchmark S&P BSE Sensex dropped 300 points, or 0.4 percent, to 71,591 in early trade while the broader NSE Nifty index was down 78 points, or 0.4 percent, at 21,588.
IT and metal stocks traded weak, with HCL Technologies, Tata Steel, Wipro, Hindalco and JSW Steel falling 2-3 percent.
DMart fell 2.3 percent despite reporting a 17 percent rise in Q3 standalone revenue.
Adani Ports jumped 3.3 percent after coming out with its December quarter volume data.
Adani Enterprises surged 5.6 percent, Adani Power climbed 4.7 percent and Adani Green soared 7.3 percent ahead of the Supreme Court verdict in the Adani-Hindenburg case.
Vodafone Idea edged down slightly after denying reports of tie-up with Elon Musk's Starlink.
Glenmark Pharma rose half a percent after launching its anti-diabetic drug, Liraglutide in India under the brand name Lirafit.
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