Sensex, Nifty Open Lower On Rate Worries, Heightened Geopolitical Tensions
(RTTNews) - Indian shares opened on a sluggish note Wednesday as the dollar and bond yields jumped following relatively weak 2-year and 5-year auctions and after hawkish comments from Minneapolis Fed President Neel Kashkari.
Surging oil prices amid escalating tensions in the Middle East and investor anxiety ahead of the general election results, due next week also weighed on markets.
The benchmark &P BSE Sensex was down 326 points, or 0.4 percent, at 74,844 in early trade while the broader NSE Nifty index was down 105 points, or half a percent, at 22,783.
Among the prominent decliners, Tata Consumer Products, ICICI Bank, HDFC Life, SBI Life and Mahindra & Mahindra fell 1-2 percent.
Brigade Enterprises jumped 5 percent after Q4 net profit jumped 234 percent year-on-year.
NBCC (India) surged 4 percent as it reported a 25 percent increase in Q4 net profit.
Reliance Industries was little changed after entering into a one-year contract with Russia's Rosneft to acquire a minimum of 3 million barrels of oil each month.
IRCTC slumped 5 percent on posting muted growth in fourth-quarter net profit.
Wockhardt rose 1.3 percent after narrowing its quarterly net loss from last year.
Hindalco Industries gained 1 percent after its subsidiary Novelis filed draft papers with SEC for an initial public offering.
Adani Enterprises rose 0.6 percent on fund raising reports.
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Japanese Market Significantly Lower
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