Indian shares opened lower on Wednesday, tracking weak cues from global markets as renewed lockdowns in Europe clouded the outlook for a swifter economic recovery.
The benchmark S&P BSE Sensex dropped 285 points, or 0.6 percent, to 49,767 in early trade, while the broader NSE Nifty index was down 70 points, or half a percent, at 14,744.
SBI, ICICI Bank, Tata Steel, ONGC and Hindalco fell 1-2 percent in the Nifty pack, while Asian Paints and Adani Ports rose over 1 percent.
Maruti Suzuki India shed 0.8 percent and Hero MotoCorp was little changed on the price hike buzz.
Vodafone Idea lost 1 percent after increasing the prices of its Family postpaid plans.
Cipla gained half a percent after its board approved the re-appointment of Umang Vohra as the Managing Director and Global CEO of the company for a further period of five years.
Inter Globe Aviation fell about 1 percent and SpceJet declined 1.3 percent after the Directorate General of Civil Aviation (DGCA) extended the suspension of international commercial passenger flight services till April 30, 2021.
Sensex Drops 285 Points; Nifty Down 70 Points
2021-03-24 04:02:24
