Indian shares opened a tad lower on Wednesday, as investors awaited the outcome of a Federal Reserve meeting later in the day for further clarity on policymakers’ view on rising inflation, growth outlook and monetary policy going forward.
The benchmark 30-share BSE Sensex dropped 93 points, or 0.2 percent, to 52,679 in early trade, while the broader NSE Nifty index was down 25 points, or 0.2 percent, at 15,843.
Adani Ports and Special Economic Zone shares fell 1.5 percent as Fitch Ratings affirmed its long-term foreign-currency issuer default rating and placed a negative outlook on the company.
Reliance Industries dropped half a percent. Reliance Jio Infocomm has launched JioFiber postpaid plans starting at Rs 399 per month.
Jubilant Foodworks soared 4.4 percent after delivering strong quarterly results.
Dish TV rallied 2 percent on fund raising reports.
LIC Housing Finance dropped over 2 percent after its fourth-quarter profit fell 5.33 percent due to a sharp rise in impairment on the financial instruments.
Dr Reddy’s Laboratories edged down slightly. An international arbitrator ordered its subsidiary to pay $46.25 million to Australia-based Hatchtech Pty Ltd as part of an asset purchase agreement between the two parties in 2015.
ICICI Bank was marginally higher. The private sector bank has raised over Rs 2,827 crore by issuing bonds.
Jubilant Pharmova gained 1 percent. Its subsidiary has signed a pact with a U.S. company to manufacture COVID-19 vaccine Covaxin for the U.S. and Canadian markets.
Coal India rose about half a percent on news it would close down 23 unviable mines.
GE Power India added 1.8 percent on bagging three separate orders worth Rs 125 crore from STEAG Energy (for Vedanta), Tata Power and JSW Steel.
Lupin was little changed. State-run insurer LIC has acquired 2.019 percent additional stake in the company via an open market transaction.
Sensex, Nifty Open Lower Ahead Of Fed Decision
2021-06-16 04:23:58
