Indian shares opened lower on Wednesday, tracking mixed global cues and on eve of F&O expiry.
The benchmark S&P/BSE Sensex dropped 300 points, or half a percent, to 60,680 in early trade, while the broader NSE Nifty index was down 96 points, or half a percent, at 18,022.
Adani Enterprises led losses to trade 4 percent lower while Apollo Hospitals Enterprise, IndusInd Bank, SBI and UltraTech Cement fell 1-2 percent.
Coffee Day Enterprises tumbled 3.2 percent as market regulator SEBI imposed a penalty of Rs. 26 crore on the company for diversion of funds from subsidiaries to a company related to promoters.
Indus Towers dropped 1.5 percent after reporting loss of Rs 708 crore in Q3.
Bharti Airtel was marginally lower after hiking basic tariff in seven regions.
Tata Motors and Maruti Suzuki India were modestly higher, extending gains from the previous session.
Cipla slipped half a percent and Dr Reddy’s Laboratories declined 1.4 percent ahead of their earnings results today.
United Spirits plummeted 5 percent on posting disappointing financial results.
Market Analysis
Sensex, Nifty Drift Lower On Mixed Global Cues
2023-01-25 04:30:58
