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Sensex, Nifty Open Lower As Fed Signals More Rate Hikes
(RTTNews) - Indian shares opened on a sluggish note Thursday and the rupee opened five paise lower at 82.15 against the dollar after the U.S. Federal Reserve held interest rates steady, as widely expected, but signaled that borrowing costs will likely rise by another half of a percentage point by the end of this year.
The benchmark S&P/BSE Sensex was down 127 points, or 0.2 percent, at 63,101 in early trade, while the broader NSE Nifty index was down 28 points, or 0.2 percent, at 18,728.
ONGC, HDFC Life, Infosys and IndusInd Bank dropped 1-2 percent while Cipla, Britannia Industries, Apollo Hospitals Enterprise, Adani Enterprise and Divis Laboratories climbed 1-2 percent.
Axis Bank slipped half a percent after 2.2 crore shares changed hands in a block deal.
Spandana Sphoorty Financial fell nearly 2 percent after clarifying on a report of stake sale to Yes Bank.
Godrej Properties roe 0.6 percent. The company said it would acquire a 7.44-acre land parcel at New Alipore, a premium residential locality in Kolkata.
CDSL fell about 1 percent after promoter BSE offloaded partial stake in the company via open market transactions.
Hero MotoCorp gained 0.6 percent after announcing the launch of its new Xtreme 160R 4V in the premium motorcycle category.
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