(RTTNews) - Indian shares opened lower on Wednesday, tracking weak cues from global markets as renewed lockdowns in Europe clouded the outlook for a swifter economic recovery.
The benchmark S&P BSE Sensex dropped 285 points, or 0.6 percent, to 49,767 in early trade, while the broader NSE Nifty index was down 70 points, or half a percent, at 14,744.
SBI, ICICI Bank, Tata Steel, ONGC and Hindalco fell 1-2 percent in the Nifty pack, while Asian Paints and Adani Ports rose over 1 percent.
Maruti Suzuki India shed 0.8 percent and Hero MotoCorp was little changed on the price hike buzz.
Vodafone Idea lost 1 percent after increasing the prices of its Family postpaid plans.
Cipla gained half a percent after its board approved the re-appointment of Umang Vohra as the Managing Director and Global CEO of the company for a further period of five years.
Inter Globe Aviation fell about 1 percent and SpceJet declined 1.3 percent after the Directorate General of Civil Aviation (DGCA) extended the suspension of international commercial passenger flight services till April 30, 2021.
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