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Sensex, Nifty Open Lower As Rupee Hits Fresh Low

Indian shares fell slightly in early trade on Monday and the rupee plunged 44 paise to hit a fresh record low of 72.18 against the green back, after U.S. President Donald Trump suggested he might impose tariffs on virtually all imports from China, despite opposition from American companies.

In addition, a strong jobs report for August bolstered the prospects for further rate hikes.

The benchmark BSE Sensex was down 165 points or 0.43 percent at 38,225 while the broader Nifty index was down 44 points or 0.38 percent at 11,544.

Hero Moto Corp, HPCL, ONGC, BPCL and UltraTech Cement fell 1-2 percent in the Nifty pack while Bharti Airtel, Infosys, Cipla and Lupin climbed 1-2 percent.

Axis Bank jumped 4.5 percent after Amitabh Chaudhry of HDFC Life was appointed as the managing director and chief executive officer at the bank.

Tata Motors dropped 1.3 percent on reporting a 4.9 percent decline in JLR August sales.

Thyrocare Technologies soared 5.6 percent on share buyback news.

JK Lakshmi Cement rose half a percent on fund raising reports.

by RTTNews Staff Writer

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