Sensex Down Over 400 Points In Early Trade; Nifty At 19,410
(RTTNews) - Indian shares opened lower on Wednesday, tracking weak cues from global markets after the August U.S. job openings survey signaled a tight labor market, keeping the risks tiled toward another Fed rate hike.
The benchmark S&P BSE Sensex was down 410 points, or 0.6 percent, at 65,109 in early trade, while the broader NSE Nifty index was down 118 points, or 0.6 percent, at 19,410.
Vedanta dropped 0.6 percent on reports it plans to complete the sale of its steel assets this year.
Adani Enterprises gained 0.6 percent after Abu Dhabi conglomerate International Holding Company increased its stake in the company to more than 5 percent.
Avenue Supermarts rose over 2 percent after DMart reported an 18 percent increase in Q2 revenue.
IDFC First Bank declined 2 percent on fund raising reports.
Nestle India jumped over 2 percent after it proposed to consider a stock split at its board meeting on October 19.
HDFC Bank rose half a percent after revamping top management to boost its mortgage business.
Maruti Suzuki dropped 1.7 percent on news it has received a draft assessment order for pending dues of Rs. 2,160 crores from the Income Tax department.
Bajaj Finserv gave up 1.6 percent after receiving a GST demand notice for Rs. 1,010 crores.
ICICI Bank was down 1.4 percent after it raised Rs. 4,000 crores via a bonds issue.
Titagarh Rail Systems rallied 2.4 percent on bagging a contract worth Rs. 857 crores from Gujarat Metro Rail Corporation.
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