Sensex, Nifty Decline On Growth Worries; IndusInd Bank And IT Stocks Hit Hard
(RTTNews) - Indian shares were subdued on Tuesday on concerns about U.S. President Donald Trump's flip-flop tariff policy and its impact on inflation, interest rates and global growth.
The benchmark S&P BSE Sensex was down 300 points, or 0.4 percent, at 73,815 in early trade while the broader NSE Nifty index dropped 74 points, or 0.3 percent, to 22,386.
IT stocks led declines, with Tech Mahindra, Wipro and Infosys falling 2-3 percent.
IndusInd Bank plunged 15 percent as more analysts downgraded their ratings on the stock following reports of derivative portfolio mismatch.
Aditya Birla Capital declined 1.3 percent after investing Rs. 300 crores in its housing finance arm via a rights issue.
On the positive side, Britannia Industries, Adani Enterprises, ICICI Bank, BPCL and Sun Pharma were up 1-2 percent.
Bharat Electronics edged up slightly after a new order win.
Japan Data On Tap For Wednesday
Canadian Market Modestly Lower
Swiss Market Turns Weak In The Final Hour, Ends Marginally Down
European Markets Fail To Hold Early Gains, Settle Weak
U.S. Job Openings Fall More Than Expected In August
U.S. Consumer Confidence Index Unexpectedly Slumps In September
Bay Street Likely To Open With Positive Bias
