Sensex, Nifty Decline After Four-day Rally
(RTTNews) - Indian shares opened on a cautious note Tuesday, tracking weak global markets as disappointing manufacturing data in several countries stoked recession fears. Escalating U.S.-China tension also remained on investors' radar.
The benchmark S&P BSE Sensex dropped 145 points, or 0.3 percent, to 57,971, snapping a four-day winning streak. The broader NSE Nifty index was down 55 points, or 0.3 percent, at 17,285.
SBI Life, Eicher Motor, Hindalco, Hero MotoCorp and UPL fell 2-4 percent while SBI, Asian Paints, Tata Consumer Products, IndusInd Bank and Coal India rose 1-2 percent.
ITC gained 1.4 percent on reporting a 33 percent increase in quarterly profit.
Zomato soared 6.7 percent on restructuring news.
Reliance Industries rose half a percent after reports that Jio has acquired close to half of all the airwaves sold in the latest 5G spectrum auction for Rs. 88,078 crore. Vodafone Idea climbed 2.5 percent while Bharti Airtel was marginally lower.
Ramco Cements tumbled 3.5 percent after its standalone quarterly profit declined 34 percent.
PNB added 1.2 percent after hiking lending rates.
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Japanese Market Sharply Lower
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