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Sensex, Nifty Subdued In Early Trade


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(RTTNews.com) - Indian shares fell modestly in early trade on Friday, tracking weak global markets as investors awaited fresh announcements regarding additional U.S. tariffs on Chinese goods.

The benchmark BSE Sensex was down 126 points or 0.33 percent at 38,116 in early trade after rising around half a percent on Thursday to snap a six-day losing streak. The broader Nifty index was down 35 points or 0.30 percent at 11,502.

The Indian rupee opened marginally higher at 71.95 per dollar compared with Thursday's close of 71.99.

Pharma stocks were coming under selling pressure, with Sun Pharma and Cadila losing 3-4 percent on concerns over regulatory issues.

Aurobindo Pharma rallied 2 percent after it agreed to buy the dermatology business and three manufacturing units of Sandoz.

Vijaya Bank dropped 1 percent after raising lending rates.

Yes Bank tumbled 3.6 percent on fund raising reports.

Religare Enterprises lost 1 percent after its Q1 net loss widened from last year.

Bajaj Auto jumped 3 percent after unveiling expansion plans.

Infosys rose half a percent after signing a joint venture pact with Singapore'sTemasek.


Read the original article on RTTNews (http://www.rttnews.com/2932867/sensex-nifty-subdued-in-early-trade.aspx)


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



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