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Sensex, Nifty Open Lower As Investors Await Retail Inflation Data
(RTTNews) - Indian shares were a tad lower on Friday despite U.S. inflation data coming in below estimates.
India's retail inflation data is due later in the day, with economists expecting the consumer price index (CPI) inflation to have risen above the 6 percent-mark on high vegetable prices in July.
The benchmark S&P BSE Sensex was down 178 points, or 0.3 percent, at 65,510 in early trade while the broader NSE Nifty index was down 52 points, or 0.3 percent, at 19,490.
FMCG, metal and bank shares traded lower, with Hindustan Unilever, ICICI Bank, JSW Steel and Hindalco falling around 1 percent.
LIC jumped over 3 percent after reporting a multi-fold rise in Q1 profit. Grasim Industries fell about 1 percent after quarterly profit slumped 56 percent year-on-year.
Hero MotoCorp was down 1 percent despite reporting a 32 percent rise in Q1 net profit.
Biocon lost 2.2 percent after Q1 profit declined 30 percent from last year.
Cipla dropped half a percent after private equity firm Blackstone along with limited partners reportedly submitted a non-binding bid to acquire control in the company.
Godrej Consumer Products was down 0.6 percent. The company has unveiled plans to invest Rs. 515 crore to set up a new manufacturing plant in Tamil Nadu.
Page Industries declined 1 percent on reporting a 23 percent fall in quarterly profit.
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