Sensex Down 275 Points In Early Trade; Nifty Dips Below 14,350

(RTTNews) - Indian shares opened on a tepid note on Friday as the country's daily coronavirus cases broke yet another record and reports suggested that U.S. President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals.

The benchmark S&P BSE Sensex fell 275 points, or 0.6 percent, to 47,807 in early trade, while the broader NSE Nifty index was down 67 points, or half a percent, at 14,339.

Banks and financials led declines, with SBI, Bajaj Finance, HDFC Bank, HDFC and ICICI Bank falling 1-2 percent.

Indus Towers was little changed after reporting a 38 percent rise in Q4 consolidated net profit.

HCL Technologies gained 0.8 percent and Indiabulls Real Estate was marginally higher ahead of their earnings results.

Gland Pharma advanced 1.6 percent after it received approval from the U.S. FDA for its generic Foscarnet Sodium injection indicated for treatment of cytomegalovirus retinitis in patients with AIDS.

Rallis India rose 0.7 percent after its quarterly profit jumped multi-fold.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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