Sensex, Nifty Open Lower As Dollar, US Yields Climb
(RTTNews) - Indian shares opened lower on Friday after rising sharply in the previous session amid the expiry of weekly F&O contracts.
The benchmark S&P/BSE Sensex dropped 470 points, or 0.6 percent, to 79,473 in early trade, tracking a surging dollar and elevated U.S. Treasury yields after data showed U.S. weekly jobless claims unexpectedly dropped to an eight-month low, reigniting worries about high interest rates.
The broader NSE Nifty index was down 85 points, or 0.4 percent, at 24,103. Among the prominent decliners, HDFC Bank, Cipla, Wipro, Tech Mahindra and Hero MotoCorp fell 1-2 percent.
ONGC rallied more than 3 percent as oil extended gains after having surged to its highest level in almost two months the previous session.
RITES rose about 2 percent on winning a Rs 69.78 crore contract from SAIL.
Avenue Supermarts jumped 13 percent after Q3 revenue surged 17 percent from last year.
Bharti Airtel fell about 1 percent on news it will acquire a 26 percent stake in AMP Energy Green Three for Rs 37.89 crore.
Wockhardt soared 5 percent after receiving approval for Miqnaf (nafithromycin).
IRFC added 1.7 percent as it signed a pact with REMC to fund renewable energy projects for Indian Railways.
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