Indian Shares Open Lower On Inflation Concerns
(RTTNews) - Indian shares opened lower on Wednesday as elevated oil prices and rising global bond yields amid an apparent impasse in Middle East peace talks fueled inflation concerns.
The benchmark BSE Sensex was down 190 points, or 0.2 percent, at 77,044, extending losses for a seventh straight session. The NSE Nifty index slipped 58 points, or 0.2 percent, to 24,098.
Among the prominent decliners, Larsen & Toubro, Bajaj Finance, BEL and Power Grid Corporation all fell around 1 percent.
Ducon Infratechnologies soared 4 percent on securing a contract from one of India's largest aluminum smelter.
CG Power and Industrial Solutions surged 4 percent after saying its operations remain unaffected by a suspected cyber event on its IT systems.
RailTel Corporation of India climbed 4 percent on bagging a work order worth Rs. 166.8 crore from the Employees Provident Fund Organization (EPFO).
IT stocks traded higher, with Infosys and HCL Technologies rising around half a percent each as a renewed semiconductor sell-off hit South Korea and Japan.
ONGC was modestly higher after commissioning gas evacuation facilities at Khoraghat GGS-1 in Assam's Golaghat district.
Manipal Health Enterprises rose about 2 percent after it signed an agreement to acquire Kinder Women's Hospital in Bengaluru for Rs. 130 crore in cash.
