Sensex, Nifty Open Lower On Inflation Concerns
(RTTNews) - Indian shares opened lower on Monday as inflation concerns prevailed and investors awaited a host of domestic and global macroeconomic data for direction.
The benchmark S&P/BSE Sensex dropped 255 points, or 0.4 percent, to 65,003 in early trade, while the broader NSE Nifty index was down 65 points, or 0.3 percent, at 19,460.
Bajaj Finance, ONGC and SBI Life all were down around 1 percent in the Nifty pack, while Eicher Motors rallied 2.3 percent after reporting its highest ever quarterly profit and revenue in Q2.
Power Grid Corp, Hindalco, Coal India and NTPC rose 1-2 percent. LIC fell about 1 percent after reporting a 50 percent year-on-year decline in its Q2 standalone profit.
Biocon lost 4 percent despite reporting a multi-fold jump in its quarterly profit. Grasim Industries and Manappuram Finance were down around 1 percent each ahead of their earnings results.
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