Indian shares were flat to slightly lower on Friday after U.S. stocks suffered their biggest drop in six months overnight and benchmark 10-year U.S. Treasury yields touched a 16-year peak amid uncertainty about the Fed’s monetary policy direction.
The benchmark S&P BSE Sensex slipped 15 points to 66,216 in early trade while the broader NSE Nifty index was down 14 points at 19,728.
Hindalco, Power Grid Corp, Divis Laboratories and Cipla all fell over 1 percent while financials such as Bajaj Finance, IndusInd Bank, SBI and Bajaj FinServ were up between 0.9 percent and 1.4 percent.
Wipro declined 1 percent as Jatin Dalal resigned as chief financial officer to pursue other opportunities after more than two decades with the company.
Infosys was down 0.6 percent. Nigeria’s Guaranty Trust Bank has selected Infosys’ Finacle digital banking suite for its multi-country digital transformation program.
Glenmark Pharmaceuticals lost nearly 2 percent after it signed a definitive agreement to sell a 75 percent stake in its subsidiary, Glenmark Life Sciences (GLS), to Nirma.
Zuari Industries advanced 1.6 percent on fund raising reports.
InterGlobe Aviation rose modestly after it inked a code sharing agreement with British Airways.
Vedanta edged up slightly after its board approved a proposal to raise Rs. 2,500 crores through issuance of non-convertible debentures.
Sensex, Nifty Marginally Lower; Financials Gain
2023-09-22 04:18:30
