Sensex, Nifty Edge Lower As BOJ Ends Negative Rates
(RTTNews) - Indian shares traded lower on Tuesday, tracking weak cues from other Asian markets after the Bank of Japan raised interest rates in an historic policy shift.
Elsewhere, the Reserve Bank of Australia kept interest rates steady but warned that interest rates will need to be raised further, if inflation remains elevated.
China concerns also weighed after the country's top securities regulator accused property giant Evergrande and its founder, Hui Ka Yan, of a $78bn fraud in the two years leading up to its failure.
The benchmark S&P BSE Sensex was down 350 points, or half a percent, at 72,397 while the broader NSE Nifty index was down 107 points, or half a percent, at 21,948.
TCS tumbled 2.6 percent after reports that Tata Sons is looking to sell shares worth up to Rs 9,362 crore in the company.
Apollo Hospitals Enterprise, Cipla, HDFC Life and Nestle India were down 1-2 percent. Aditya Birla Sun Life AMC fell 2.1 percent after its promoters decided to sell up to 11.47 percent stake in the company via an offer for sale.
Among the prominent gainers, Tata Steel added 1.5 percent after it decided to shut down the Coke Ovens at the Port Talbot plant in Wales.
Hindalco, Bajaj Auto and Adani Enterprises all rose over 1 percent.
Zomato, which is facing an 8.5-crore GST notice in Gujarat, advanced 1.7 percent.
Lemon Tree Hotels rose 1.2 percent after unveiling its newest addition, Lemon Tree Hotels, Agartala.
RITES edged up slightly on bagging an order worth Rs 67.50 crore from National Small Industries Corporation.
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European Markets Recover From Multi-month Lows, Close On Positive Note
Canadian Market Remains Firmly Up In Positive Territory
U.S. Factory Orders Inch Up In Line With Estimates In August
U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected
Euro Slides Against Majors
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