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Sensex, Nifty Open Lower On US Bank Worries
(RTTNews) - Indian shares opened a tad lower on Wednesday amid worries about the health of U.S. banks and rising deflationary pressures in China.
The benchmark S&P BSE Sensex dropped 243 points, or 0.4 percent, to 65,603 in early trade, while the broader NSE Nifty index was down 60 points, or 0.3 percent, at 19,511.
Adani Enterprises rose 0.6 percent on reports that it is considering options to sell stake in Wilmar International.
Coal India gained more than 1 percent despite reporting a 10 percent fall in Q1 profit.
Tata Motors edged up slightly on reports it plans to launch four new electric vehicles in a few quarters.
Power Finance Corp was down 0.7 percent despite the company proposing to consider a bonus issue.
IRCON jumped 5.6 percent on posting 30 percent growth in quarterly net profit.
Oil India fell nearly 2 percent on reporting a 4 percent year-on-year rise in Q1 net profit.
Lupin added 1.4 percent after receiving approval from the U.S. health regulator for its abbreviated new drug application for Fluocinolone Acetonide Oil, 0.01% (Body Oil).
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