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Sensex, Nifty Follow Global Peers Lower; HDFC Twins Lead Losses
(RTTNews) - Indian shares opened lower on Friday, tracking weak global markets amid signs that turmoil in the U.S. banking sector is deepening.
The benchmark S&P BSE Sensex was down 283 points, or half a percent, at 61,466 in early trade, while the broader NSE Nifty index was down 77 points, or 0.4 percent, at 18,178.
HDFC twins led losses, with HDFC Bank plunging 4.6 percent and HDFC losing 4.4 percent amid indications that the merged entity will have a lower weight in the MSCI index.
Metal stocks such as Tata Steel and Hindalco fell over 1 percent each after a private gauge of China's service sector declined in April.
Dabur India dropped 1.2 percent on reporting a marginal decline in quarterly consolidated net profit.
Manappuram Finance plunged more than 12 percent after the Directorate of Enforcement attached assets worth Rs 143 crore in the company's bank balance and shares.
TVS Motor Company rallied 2.6 percent on reporting a 49 percent increase in Q4 net profit.
Reliance Industries rose half a percent after shareholders and creditors approved the demerger of the company's financial services firm - Reliance Strategic Ventures.
CEAT jumped 4 percent on posting a more-than-five-fold increase in its fourth-quarter profit.
Britannia Industries edged up slightly ahead of its earnings release.
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