Indian shares opened lower on Thursday, as investors grappled with the Covid-19 pandemic and the prospect of higher interest rates.
The benchmark S&P BSE Sensex fell 320 points, or half a percent, to 59,778 in early trade, while the broader NSE Nifty index was down 54 points, or 0.3 percent, at 17,884.
Tech Mahindra, ONGC, Infosys and Reliance Industries all fell around 1 percent while UltraTech, Coal India, Hero MotoCorp, Power Grid Corp and Tata Consumer Products climbed 1-3 percent.
L&T Infotech advanced 1.6 percent on posting an 18 percent increase in quarterly consolidated profit.
Hitachi Energy rose over 1 percent after it won orders worth over ?160 crore to speed up electrification of Indian Railways.
Bajaj Auto was little changed despite reporting a 22 percent fall in standalone net profit for the December quarter.
Tata Communications tumbled 3.6 percent even as it reported a 28 percent increase in Q3 consolidated profit.
JSW Energy dropped 1.5 percent despite reporting over two-fold jump in its consolidated net profit in the December 2021 quarter.
SBI was marginally lower. The Union Cabinet has sanctioned ?973.74 crore to the bank as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic.
RBL Bank rose half a percent on reports it is seeking PE funding in a bid to allay investor concerns over its financial health.
Market Analysis
Sensex, Nifty Open Lower In Cautious Trade
2022-01-20 04:32:37
