Indian shares opened slightly lower on Monday, tracking weak global cues as investors looked ahead to the release of U.S. inflation, retail sales and industrial production data this week for additional clues on the rate outlook.
The benchmark S&P/BSE Sensex was down 142 points, or 0.2 percent, at 60,540 in early trade while the broader NSE Nifty index was down 40 points, or 0.2 percent, at 17,816.
Financials and IT stocks led losses, with SBI, Tech Mahindra, Bajaj Finance, TCS and Infosys falling 1-2 percent.
On the positive side, Hindalco, Dr Reddy’s Laboratories, Eicher Motors and Titan Company all rose around 1 percent.
Tata Steel advanced 1.7 percent on news it would merge seven subsidiaries with itself in the next financial year.
Adani Ports was little changed and Ambuja Cements was slightly lower after the NSE removed them from the surveillance framework.
Oil India jumped more than 6 percent on reporting its highest ever quarterly profit in Q3.
Delhivery fell nearly 2 percent after widening its quarterly loss.
PB Fintech rallied 2.5 percent as it narrowed its Q3 loss to Rs. 87 crore from Rs 298 crore last year.
Sun Pharma gained 1 percent after announcing a product recall in the United States.
Zee Entertainment Enterprises dropped half a percent ahead of its earnings release.
Market Analysis
Sensex, Nifty Open Lower In Cautious Trade; Metal Stocks Gain
2023-02-13 04:25:57
