Indian shares opened lower on Wednesday, tracking weak global markets amid growing fears about a Chinese government crackdown on tech and education sectors.
The benchmark 30-share BSE Sensex fell 285 points, or half a percent to 52,294 in early trade, while the broader NSE Nifty index was down 75 points, or half a percent, at 15,671.
IndusInd Bank rallied 2 percent after doubling its quarterly net profit.
InterGlobe Aviation, the parent of airline IndiGo, tumbled 3 percent after posting its biggest quarterly loss.
Future Retail advanced 1.3 percent. The Supreme Court said it would decide whether Singapore’s Emergency Arbitrator award was valid under Indian law and if it can be enforced.
Granules India climbed 3.4 percent on reporting an 8 percent rise in its consolidated net profit in the first quarter.
Vedanta gained 0.7 percent on news it plans major expansion at Bharat Aluminium Company’s (Balco) smelter capacity.
Maruti Suzuki India edged down slightly and Nestle India fell over 1 percent ahead of their earnings.
Larsen & Toubro rose half a percent after its board cleared the amalgamation of the firm’s wholly owned arm L&T Hydrocarbon Engineering with the parent firm.
Canara Bank dropped 1.5 percent despite its Q1 profit growing three-fold.
Market Analysis
Sensex Down 285 Points In Early Trade; Nifty Dips Below 15,700
2021-07-28 04:18:58
