Sensex, Nifty Open Lower; Healthcare Stocks Rally
(RTTNews) - Indian shares opened lower on Wednesday, reflecting weak global cues on uncertainty about the Fed's rate path and worries over a possible U.S. government shutdown.
The benchmark S&P/BSE Sensex was down 185 points, or 0.3 percent, at 65,760 in early trade while the broader NSE Nifty index was down 44 points, or 0.2 percent, to 19,620.
Financials traded lower, with Bajaj Finance, ICICI Bank and HDFC Bank all falling around 1 percent.
Vedanta slumped 4.6 percent after Moody' Investors Service downgraded corporate family rating of the company in the absence of any meaningful progress on refinancing its upcoming debt maturities.
Healthcare stocks saw broad-based gains, with Cipla, Dr Reddy's Laboratories and Divis Laboratories all climbing around 2 percent.
3i Infotech rallied 3.4 percent on bagging contract worth Rs. 39.55 crore from Ujjivan Small Finance Bank.
Century Textiles and Industries advanced 1.7 percent on news its subsidiary has sold out a residential project in Bengaluru soon after the launch.
Delta Corp rose half a percent after two straight sessions of losses.
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