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Sensex, Nifty Edge Lower After Robust US Data

Indian shares were a tad lower on Wednesday as robust economic data out of the U.S. rekindled fears about the pace of interest-rate rises.

The S&P BSE Sensex slipped 92 points, or 0.2 percent, to 60,230 in early trade, while the broader NSE Nifty index was down 19 points, or 0.1 percent, at 17,980.

HDFC Bank, Cipla, UPL, HDFC and Reliance Industries all fell around 1 percent while SBI Life, Tata Consumer Products, Asian Paints, Tata Motors and NTPC rallied 1-3 percent.

PVR gained 0.7 percent after launching a co-branded debit card.

Power Grid Corporation rose over 1 percent on news it has upgraded New Mariani Sub-Station in Assam.

Coforge, formerly known as NIIT Technologies, was marginally higher after it filed for an U.S. IPO via ADR route.

Indian Overseas Bank edged up slightly despite reporting a divergence of Rs. 700 crore in gross NPAs for the period ended March 2021.

ITC climbed 1.1 percent. ITC Hotels' luxury brand Mementos has bought a new property in Jaipur.

Welspun Enterprises rose 0.6 percent. The construction firm said it has received a letter from the Maharashtra government declaring a provisional commercial operation date of November 11 for a road project completed by it in Amravati.

Tourism Finance Corporation of India jumped 3 percent on fund raising reports.

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