Sensex, Nifty Follow Global Peers Lower

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(RTTNews.com) - Indian shares opened modestly lower on Wednesday, tracking weak global markets after oil prices fell almost 2 percent overnight on concerns about global demand and rising production outside OPEC.

The benchmark BSE Sensex was down 80 points or 0.24 percent at 32,862 in early trade while the broader Nifty index was down 30 points or 0.29 percent at 10,157.

Sun Pharma shares tumbled 2.8 percent after the drugmaker reported a 59 percent drop in Q2 profit on weak U.S. sales.

Bharti Airtel slid half a percent after offloading part of its stake in Infratel for Rs.3,325 crore.

HCL Technologies fell about 1 percent despite the company signing a 5-year IT infrastructure services contract with Jardine Lloyd Thompson Group.

Lupin also lost 1 percent after it received a warning letter from the U.S. FDA for its Indore and Goa plants.

Reliance Capital rallied 2 percent on reporting a 39 percent jump in quarterly profit, helped by growth in mutual fund and finance business.

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This article appears in: World Markets , Economy , US Markets , Oil , Stocks

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