Sensex, Nifty Open Lower Ahead Of F&O Expiry
(RTTNews) - Indian shares opened lower on Thursday, tracking weak global cues and on eve of F&O expiry.
The benchmark S&P BSE Sensex was down 248 points, or 0.4 percent, at 60,662, extending losses from the previous session. The broader NSE Nifty index slipped 73 points, or 0.4 percent, to 18,049.
Risk-off sentiment prevailed in global financial markets amid concerns over the true scale of infections in China and the possibility of higher interest rates leading to a recession.
Reliance Industries edged down slightly. The company will continue to grow bigger and bigger like the proverbial banyan tree, Chairman and Managing Director Mukesh Ambani said on the occasion of his 20 years at the helm of the company.
State Bank of India was little changed on fund raising reports.
Tata Power slipped half a percent after its arm Tata Power Renewable Energy secured a contract from Tata Power Delhi Distribution Limited for setting up a 255 MW hybrid wind and solar power project in Karnataka.
Sheela Foam gained half a percent on reports that it is in talks to acquire rival mattress maker Kurlon.
Tata Steel added half a percent after raising its stake in Tata Steel Advanced Materials.
JSW Energy advanced 1.7 percent after completing acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings.
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