Indian shares opened lower on Friday, mirroring weak global cues as bond yields rose in response to the Fed chairman’s comments on the world’s largest economy, inflation and the economic outlook.
The benchmark S&P BSE Sensex dropped 343 points, or 0.7 percent, to 50,503, while the broader NSE Nifty index was down 98 points, or 0.7 percent, at 14,983.
Wipro fell nearly 2 percent after it agreed to buy British consulting firm Capco for $1.45 billion in cash.
NFL and RCF both surged around 6 percent as the government started work on privatization of the fertilizer companies. FACT soared as much as 17 percent and Madras Fertilizers added 5 percent.
Max Healthcare Institute rose half a percent after it launched a QIP issue to raise around Rs 1,200 crore at a floor price of Rs 190.40 per share.
Indiabulls Housing Finance dropped 2 percent after raising $150 million (?1,091 crore) via foreign currency convertible bonds.
ONGC jumped 4.2 percent as oil extended overnight gains to rally toward $65 a barrel. BPCL, HPCL and IOC all were up around 1 percent.
Sensex, Nifty Open Lower After Powell’s Comments
2021-03-05 04:10:12
