Indian shares were subdued in early trade on Tuesday, mirroring weak global cues as investors braced for monetary policy decision from the Fed, ECB and BOE.
The Asian Development Bank today trimmed its growth forecasts for developing Asia for this year and next, citing risks and uncertainty brought on by the new Omicron coronavirus variant.
The benchmark 30-share S&P BSE Sensex dropped 160 points, or 0.3 percent, to 58,123, while the broader NSE Nifty index was down 45 points, or 0.3 percent, at 17,323.
Rate-sensitive automakers and financials were among the prominent decliners after data showed India’s retail inflation has risen to a three-month high of 4.91 percent in November.
Eicher Motors, Hero MotoCorp, Kotak Mahindra Bank, Tata Motors and Bajaj Finance all fell over 1 percent.
Shriram City Union Finance tumbled nearly 4 percent and Shriram Transport Finance lost 3.5 percent on merger news.
Vedanta rose over 1 percent after settling a retrospective tax dispute with the government.
Vodafone Idea gained 0.7 percent as it signed a pact with Hungama for rolling out its music streaming service.
Greenlam soared 9.5 percent on news it will invest Rs 950 crore in 2-3 years as part of its capex plan.
Sensex Drops 160 Points In Early Trade; Nifty At 17,323
2021-12-14 04:28:49
