Sensex, Nifty See Modest Losses On Rate Jitters
(RTTNews) - Indian shares opened lower on Friday, as investors react to weak global cues and a falling rupee, which opened at a fresh record low of 81.06 per dollar.
The benchmark S&P BSE Sensex dropped 222 points, or 0.4 percent, to 58,897 in early trade, while the broader NSE Nifty index was down 75 points, or 0.4 percent, at 17,555.
IT, financials and metal stocks were among the worst hit, with Hindalco, HDFC Bank, HDFC, IndusInd Bank and Tech Mahindra losing 1-2 percent.
On the positive side, Cipla, Tata Steel and Apollo Hospitals all gained around 2 percent.
Mahindra & Mahindra Financial Services plunged 8 percent after the RBI barred the company from carrying out recovery or repossession activity through third-party until further notice.
Fortis Healthcare fell 2.5 percent after the Supreme Court ordered a forensic audit of its share sale to Malaysia's IHH Healthcare.
Hero MotoCorp gained 0.6 percent on the price hike buzz.
Lupin edged up slightly. The company has received approval from the U.S. health regulator to market a generic drug in the American market.
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