Indian shares opened on a tepid note Thursday, tracking weakness across global markets.
The benchmark S&P BSE Sensex slipped 48 points, or 0.1 percent, to 61,933 in early trade, while the broader NSE Nifty index was down 28 points, or 0.2 percent, at 18,382.
Tata Motors led losses to fall more than 2 percent while Tech Mahindra, Hindalco, Eicher Motors and Titan Company all fell over 1 percent.
Paytm plunged more than 9 percent on reports that Softbank is selling stake worth $200 million in the company via a block deal.
Axis Bank gained 0.6 percent. The government has received about Rs 3,839 crore by selling a 1.5 per cent stake in the private sector bank, held through SUUTI.
ONGC rose half a percent as the government hiked windfall tax on domestically produced crude oil while reducing the rate on export of diesel.
Wipro shed 0.6 percent after it reached an agreement with employee representatives on setting up a European Works Council.
Asian Paints was down 0.4 percent. The company has signed a pact with U.S.-based Kellogg Brown & Root LLC for manufacturing of Vinyl Acetate Monomer in India.
Aurobindo Pharma added half a percent after the U.S. FDA concluded inspection of its unit XI.
State Bank of India edged up slightly. The state-run bank has signed a €150 million (Rs 1,240 crore) loan agreement with German development bank KfW for solar projects.
Market Analysis
Sensex, Nifty Marginally Lower In Early Trade; Paytm Shares Plunge 9%
2022-11-17 04:20:56
