Indian shares opened lower on Friday due to profit taking at higher levels after recent strong gains.
The benchmark S&P/BSE Sensex fell 472 points, or 0.6 percent, to 79,577 in early trade while the broader NSE Nifty index was down 113 points, or half a percent, at 24,188.
HDFC Bank lost nearly 4 percent after growth in deposits and advances declined in the first quarter.
Tata Steel, Mahindra & Mahindra, IndusInd Bank and Titan Company all fell over 1 percent.
Among the prominent gainers, Larsen & Toubro, ONGC, Divis Laboratories and Cipla rose 1-2 percent.
Raymond soared 6.5 percent after announcing demerger of its real estate business.
Railtel rallied 4 percent and IRCON surged 4.6 percent on securing new orders.
JFL Life Sciences jumped 17 percent on bagging a $1.66 million order from Manila, Philippines-based Phil Capital Trading Solutions.
IDBI Bank was modestly higher after sharing its business update for the first quarter ended June.
IDFC First Bank edged up slightly after LIC raised its stake in the company.
Market Analysis
Sensex, Nifty Slip Into Red On Profit Taking; HDFC Bank Shares Down Nearly 4%
2024-07-05 04:30:47
