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Sensex, Nifty Open Lower On US Rate Worries
(RTTNews) - Indian shares opened on a sluggish note Thursday, mirroring weak cues from global markets as stronger-than-expected U.S. services sector data fueled concerns that U.S. interest rates may stay higher for longer.
The benchmark S&P BSE Sensex was down 170 points, or 0.3 percent, at 65,710 while the broader NSE Nifty index was down 53 points, or 0.3 percent, at 19,558.
Tata Consumer Products declined 2.4 percent after denying reports that it is in talks to acquire a majority 51 percent stake in the snack and sweet brand Haldiram.
Reliance Industries edged down slightly after its retail arm, Reliance Retail Ventures, acquired a majority stake in actor Alia Bhatt's sustainable fashion clothing brand for kids and maternity wear, Ed-a-Mamma.
TCS was little changed after signing a strategic partnership valued at £800 million (about $1 billion) with the digital unit of Jaguar Land Rover.
REC jumped nearly 3 percent after it raised $1.15 billion in August in two tranches from a consortium of six banks.
MIC Electronics rose about 2 percent on fund raising reports.
Power Finance Corporation advanced 2.7 percent after fixing Sept 21st as the record date for its 1:4 bonus issue.
PNC Infratech slid half a percent on news it would settle a NHAI dispute with a one-time settlement of Rs 107.17 crore.
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