Indian Shares Deep In Red Ahead Of Fed Decision
(RTTNews) - Indian shares were deep in the red on Tuesday, extending the previous session's slump due to uncertainty over a trade deal with the United States and amid caution ahead of the Federal Reserve's interest-rate decision.
The benchmark BSE Sensex was down 645 points, or 0.8 percent, at 84,458 in early trade while the broader NSE Nifty index dipped 196 points, or 0.8 percent, to 25,764.
Shares of Asian Paints plummeted nearly 4 percent while Mahindra & Mahindra and Trent were down around 2 percent each.
Siemens fell more than 2 percent after its board approved and executed a slump sale agreement for the transfer of its low voltage motors and geared motors business to Innomotics India Private Limited.
Larsen & Toubro gave up nearly 1 percent after its board approved the transfer of its real estate business to its subsidiary, L&T Realty Properties.
ICICI Bank was down about 1 percent on news it would buy a 2 percent stake in ICICI Prudential AMC from Prudential Corporation for Rs. 2,140 crore.
Piramal Finance tumbled 2.7 percent on reports it is eying foray into the gold loan segment.
Torrent Power declined 1.4 percent after it entered into a long-term sale and purchase agreement with Japan's Jera Co., Inc.
InterGlobe Aviation, the owner of IndiGo, was little changed. The airline has announced that its network operations are now fully back to normal after last week's disruption.
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