Markets

Sensex Drops 150 Points; Nifty Nears 11,300

(RTTNews) - Indian shares fell on Thursday, mirroring weak cues from global markets as disappointing U.S. data and the U.S. decision to impose $7.5bn (£6.1bn) of tariffs on exports from the EU sapped investors' appetite for riskier assets.

The benchmark S&P BSE Sensex fell 150 points, or 0.4 percent, to 38,152 in early trade after falling around 1 percent on Tuesday. The broader NSE Nifty index was down 50 points, or 0.45 percent, at 11,309.

Tata Motors surged 4.3 percent after reports that automakers are seeing an increase in showroom footfalls and retail bookings amid the festive season.

Mahindra & Mahindra declined nearly 1 percent after partnering with Ford Motor Company Inc. to develop, market and distribute vehicles.

Banks were modestly higher after the Reserve Bank of India said the Indian banking system is safe and stable.

Yes Bank shares soared 20 percent as the Ashok Kapur family affirmed full support to the private sector lender.

Steel Strips Wheels edged down slightly after its September total wheel rim sales declined 19 percent.

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