Sensex, Nifty Modestly Lower In Early Trade; Metal Stocks Hit Hard
(RTTNews) - Indian shares opened a tad lower on Tuesday, tracking weak global cues amid worries that an energy crisis in Europe and China's COVID woes will tip the U.S. and Europe into a recession.
The benchmark S&P BSE Sensex fell nearly 200 points, or 0.4 percent, to 54,198 in early trade, while the broader NSE Nifty index was down 68 points, or 0.4 percent, at 16,148.
Titan Company, Tata Steel, JSW Steel and Hindalco fell 2-3 percent, while Adani Ports, NTPC and Apollo Hospitals Enterprise all were up around 1 percent.
HCL Technologies fell about 1 percent ahead of its earnings release.
Paytm dropped 1 percent despite reporting strong operational performance in the first quarter of the financial year 2022-23.
L&T was marginally higher on news its arm L&T Construction has bagged significant contracts to build data centers in Mumbai and Navi Mumbai.
Bank of Baroda was moving lower after hiking its marginal cost of funds-based lending rate.
SpiceJet declined 1.3 percent after reporting another technical snag in a Dubai-bound flight.
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