Markets

Sensex, Nifty Tad Lower On Weak Global Cues

(RTTNews) - Indian shares opened a tad lower on Tuesday, tracking weak global markets as rising Covid-19 cases coupled with diminishing prospects for a U.S. stimulus deal added to worries about the economic outlook.

The benchmark S&P BSE Sensex dropped 135 points, or 0.34 percent, to 40,010 in early trade, while the broader NSE Nifty index was down 29 points, or 0.25 percent, at 11,738.

Future Retail declined 1.3 percent. The company will go into liquidation if its deal to sell assets to Reliance Industries fails, the group reportedly told a Singapore arbitrator.

Dewan Housing Finance Corp slumped 4.7 percent. Lenders to the debt-ridden company have asked the four bidders for the company to sweeten their bids.

Yes Bank lost about 2 percent. Media reports suggest that the bank plans to obtain physical possession of Reliance Centre, the headquarters of Anil Ambani's Reliance Group in Mumbai.

SBI fell 1.5 percent after it raised Rs 5000 crore by issuing Basel-III compliant bonds.

Tata Motors was down 0.8 percent while Bharti Airtel edged up slightly ahead of their earnings results.

Aurobindo Pharma was marginally lower after it signed a pact to divest Natrol.

SBI Life Insurance gained about 1 percent after reporting over two-fold jump in its Q2 net profit.

Muthoot Finance dropped 1.3 percent on fund raising reports.

NTPC advanced 1.7 percent on share buyback news.

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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