Sensex, Nifty Open Lower On Weak Global Cues
(RTTNews) - Indian shares opened on a sluggish note Monday as investors looked ahead to the release of key U.S. inflation data and comments from Federal Reserve officials this week for clarity on the Fed's rate path.
The benchmark S&P BSE Sensex dropped 267 points, or 0.4 percent, to 76,942 in early trade while the broader NSE Nifty index was down 70 points, or 0.3 percent, at 23,431.
Biocon fell 1.3 percent after getting four observations from the U.S. FDA for its Andhra facility.
Likewise, Cipla dropped more than 2 percent on getting six observations from the U.S. health regulator for its Goa facility.
CarTrade Tech tumbled 3.4 percent after 71 lakh shares, or 15.1 percent equity, of the company changed hands in block deals.
Nagarjuna Fertilizers slumped 4.2 percent and GNFC lost 3.6 percent after the GST Council referred a proposal to reduce the GST on fertilizers to the Group of Ministers (GoM) on rate rationalization for further consideration.
Prestige Estates gave up 1 percent after its board approved a proposal to raise up to Rs 5,000 crore through a QIP issue.
Among those that gained, Sun Pharma rallied 2.1 percent on news it will introduce Takeda's gastrointestinal drug in India.
IREDA surged 1.8 percent after completing a fund raising via sale of bonds.
Lupin gained 0.7 percent on receiving the Establishment Inspection Report (EIR) from the U.S. FDA for its Somerset manufacturing facility.
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