Indian shares opened lower on Tuesday in cautious trade as investors looked ahead to some key U.S. tech earnings, the U.S. Q2 GDP data and the Fed’s interest-rate decision.
The benchmark S&P BSE Sensex fell 265 points, or half a percent, to 55,501 in early trade, while the broader NSE Nifty index was down 73 points, or 0.4 percent, at 16,558.
HCL Technologies, Hero Moto Corp, Nestle India, Infosys and Dr Reddy’s Laboratories lost 1-2 percent in the Nifty pack, while Bajaj Finserv jumped 2.4 percent ahead of a board meet on Thursday to consider a stock split proposal.
Tata Steel rose over 1 percent despite reporting a 13 percent decline in Q1 profit.
Axis Bank fell about 1 percent even as the bank’s quarterly profit nearly doubled.
Canara Bank was down 0.7 percent despite reporting a 72 percent jump in first-quarter net profit.
Tech Mahindra declined 0.6 percent after its Q1 profit fell 16.4 percent year-on-year and by 24.8 percent on a sequential basis.
Sun Pharma dropped half a percent. LIC said it has reduced shareholding by selling 2 percent in the company.
Bharti Airtel was declining while Vodafone Idea was modestly higher ahead of the 5G spectrum auction starting later today.
Market Analysis
Sensex, Nifty Slide As Investors Brace For Key Earnings
2022-07-26 04:09:00
