Sensex, Nifty Open Lower On Mixed Global Cues
(RTTNews) - Indian shares opened lower on Monday after a strong U.S. jobs report raised expectations of aggressive policy tightening by the Federal Reserve.
Investors also awaited the outcome of the RBI policy meeting this week and the central bank's commentary on inflation for directional cues.
The benchmark BSE Sensex dropped 164 points, or 0.3 percent, to 58,480 in early trade, while the broader NSE Nifty index was down 44 points, or 0.3 percent, at 17,516.
PSU banks were losing ground, with SBI falling nearly 2 percent despite registering its highest quarterly profit.
PNB tumbled 3 percent after cutting interest rates on savings accounts.
Bank of Baroda gave up 3 percent despite reporting a doubling of quarterly net profit.
Dr Reddy's Laboratories was down 0.7 percent on reports it has submitted a proposal to the DCGI to register Sputnik Light vaccine as a booster dose against COVID-19.
Reliance Industries dropped 1 percent after Jio announced an investment of $15 million in the U.S. tech firm Two Platforms Inc.
Zee Entertainment Enterprises fell over 3 percent. IndusInd Bank has filed a bankruptcy case against the debt-laden company with the NCLT under the Insolvency and Bankruptcy Code.
One97 Communications (Paytm) gained 1 percent after the company saw its revenue climb 89 percent in the December quarter.
Tata Steel added 0.7 percent on posting robust earnings results for the December quarter.
