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Sensex, Nifty Follow Global Peers Lower
(RTTNews) - Indian shares opened lower on Wednesday, tracking weak cues from global markets as investors fretted about the Chinese economy, higher U.S. interest rates and the health of the U.S. banking sector.
The benchmark S&P BSE Sensex was down 240 points, or 0.4 percent, at 65,160 in early trade, while the broader NSE Nifty index was down 85 points, or 0.4 percent, at 19,349.
Adani Enterprises fell about 1 percent and Adani Ports lost 1.5 percent after capital market regulator SEBI sought more time to conclude its inquiry in the Adani-Hindenburg case.
HDFC Life, Hero MotoCorp and Hindalco were down 1-2 percent.
Divis Laboratories fell more than 1 percent on reporting a 49 percent fall in quarterly profit.
InterGlobe Aviation slumped 4 percent on reports that co-founder Rakesh Gangwal will sell shares worth Rs 3,730 crore through a block deal.
Vodafone Idea declined 1.5 percent after widening its Q1 net loss.
ONGC was little changed and Reliance Industries dropped half a percent after the government hiked windfall tax on domestically produced crude oil and on export of diesel.
IDBI Bank was down 0.7 percent on reports that the strategic sale of the bank is likely to get pushed to FY25.
Mahindra & Mahindra edged down slightly after unveiling The Thar.e, an electric concept SUV, during an event in Cape Town.
Infosys rose 1.4 percent after signing an initial five-year agreement worth 1.5 billion euros ($1.64 billion) with Liberty Global.
ITC gained 1.5 percent after its board approved hotel business demerger.
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