Sensex Down 260 Points In Early Trade; Nifty Nears 15,700
(RTTNews) - Indian shares opened lower on Tuesday to extend losses from the previous session as market participants braced for tougher forward guidance from the Federal Reserve at Wednesday's meeting.
Goldman Sachs has forecast a 75-basis point interest rate hike at this week's meeting.
The benchmark S&P BSE Sensex dropped 260 points, or half a percent, to 52,588 in early trade, dragged down by financials and IT stocks. The broader NSE Nifty index was down 70 points, or 0.4 percent, at 15,704.
HDFC Bank, Tata Motors, IndusInd Bank, Tech Mahindra and Asian Paints fell 1-2 percent in the Nifty pack, while NTPC, Mahindra & Mahindra, Bharti Airtel and Power Grid Corp all rose over 1 percent.
Bajaj Finance declined 1 percent after raising fixed deposit interest rates on various tenors.
Tata Steel rose half a percent after it unveiled a 7-million-pound investment plan for its Hartlepool Tube Mill in north-east England.
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