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Sensex, Nifty Open Lower In Cautious Trade; Metal And IT Stocks Buck Trend
(RTTNews) - Indian shares were a tad lower in early trade on Wednesday, as the World Bank slashed its global growth forecasts and investors awaited U.S. inflation data due on Thursday for clues to the economic and rate outlook.
The benchmark S&P BSE Sensex slipped 37 points to 60,078 while the broader NSE Nifty index was down 17 points at 17,897.
Bharti Airtel slumped 3.5 percent to extend losses from the previous session while Divis Laboratories, Eicher Motors, Apollo Hospitals Enterprise and Cipla dropped 1-2 percent.
On the positive side, Tech Mahindra, JSW Steel, HCL Technologies and Hindalco climbed 1-2 percent.
Tata Motors gained 1 percent after completing the acquisition of Ford India's manufacturing plant at Sanand.
Adani Wilmar rallied 2.6 percent after reporting strong volume growth and market share gains across product categories in the December quarter.
Bharat Dynamics and Astra Microwave Products both rose over 2 percent as the defense acquisition council approved acceptance of necessity for three capital acquisition proposals worth Rs 4,276 crore.
TCS rose half a percent after falling sharply in the previous session on disappointing earnings.
Adani Ports and Special Economic Zone edged up slightly. A consortium led by the company has completed the acquisition of Haifa Port Company (HFC) from the Israeli government.
Sigachi Industries tumbled 3.5 percent on fund raising reports.
Bank of Baroda was up slightly after hiking its lending rates.
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