Sensex, Nifty Open Lower Ahead Of RBI Rate Decision
(RTTNews) - Indian shares opened lower on Friday ahead of the Reserve Bank of India's monetary policy announcement later in the day, with markets expecting a third consecutive cut.
The benchmark S&P BSE Sensex dropped 193 points, or 0.2 percent, to 81,248 in early trade while the broader NSE Nifty index was down 47 points, or 0.2 percent, at 24,702.
Bajaj Finserv fell about 1 percent after a block deal, with promoter entities Bajaj Holdings & Investment Ltd and Jamnalal Sons reportedly offloading up to 1.94 percent stake in the company.
Ireda declined 1.4 percent on fund raising reports.
Coal India gained 1 percent after signing a pact with Indian Port Rail & Ropeway Corporation to develop the rail infrastructure of the coal behemoth and its arms.
Tejas Networks rallied almost 2 percent after receiving Rs. 122.96 crore from the telecom department as the first tranche under the Production Linked Incentive scheme for Q3 FY 2024-25.
National Aluminum Company climbed 1.2 percent after clarifying that its Rs. 30,000-crore capital expenditure plan for smelter expansion with captive power has not been put on hold.
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