Sensex, Nifty Extend Losses For Fourth Day
(RTTNews) - Indian shares opened on a sluggish note on Wednesday after U.S. President Donald Trump accused India and China of being the primary funders of Russia's war in Ukraine through their continued purchase of Russian oil.
Additionally, the Trump administration released a proposal that would rework the H-1B visa selection process to favor higher-skilled and better-paid workers, according to a related Federal Register notice.
The benchmark BSE Sensex was down 232 points, or 0.3 percent, at 81,869 in early trade, extending losses for a fourth straight session.
The broader NSE Nifty index dropped 75 points, or 0.30 percent, to 25,095.
Among the prominent decliners, ICICI Bank, HDFC Bank and Tech Mahindra were down 1-2 percent.
Swiggy fell 1.2 percent on news it will divest its stake in bike-taxi platform Rapido through two separate deals.
Tata Motors declined 1.4 percent. Its unit Jaguar Land Rover has prolonged a production shutdown following a cybersecurity incident that disrupted operations on September 2.
Bajaj Electricals soared 11 percent after its board approved a plan to acquire the Morphy Richards brand along with associated intellectual property rights from Ireland-based Glen Electric for Rs. 146 crore.
HCL Technologies gained 1 percent after extending its long-term digital transformation partnership with a Sweden-based commercial vehicle maker.
