Sensex, Nifty Open Lower On Recession Worries
(RTTNews) - Indian shares opened lower on Thursday, as weak U.S. data rekindled recession worries and two Fed officials hinted that further rate hikes are warranted to keep inflation under control.
The benchmark S&P BSE Sensex dropped 198 points, or 0.3 percent, to 60,847 in early trade, while the broader NSE Nifty index was down 69 points, or 0.4 percent, at 18,095.
Adani Enterprises fell 2.6 percent after announcing the floor price for its follow-on public offer.
Eicher Motors, Titan Company, Hindalco and Kotak Mahindra Bank all fell over 1 percent.
Vedanta rose about 1 percent on news it would acquire Meenakshi energy for Rs. 1,440 crore.
Bharati Airtel dropped 1 percent on news it would invest Rs. 2,000 crore to set up a data center in Telangana.
IndusInd Bank edged down slightly despite beating forecasts with a 53 percent rise in Q3 profit.
Central Bank of India rose 0.6 percent after it reported a 64 percent increase in standalone net profit to Rs. 458.2 crore in the December quarter of FY23.
Rallis India slumped 4.5 percent on posting disappointing financial results.
Sundaram Finance was moving lower on fund raising reports.
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