Indian stock markets opened on a downtrend on Tuesday as investors adopted a cautious approach ahead of the Federal Reserve's interest-rate decision scheduled for December 18.
The S&P BSE Sensex dipped by 493 points, representing a 0.6 percent decrease, reaching 81,255 in early trading. Similarly, the broader NSE Nifty index fell by 150 points, or 0.6 percent, landing at 24,519.
Among the significant losers were Bharti Airtel, Grasim, Reliance Industries, Bajaj FinServ, and Shriram Finance, all of which saw declines ranging from 1 to 2 percent.
On a positive note, shares of Life Insurance Corporation of India saw an increase of approximately 1 percent. It was disclosed in parliament that the insurer has unclaimed maturity amounts totaling Rs 880.93 crore for the 2023-24 period.
Tata Consumer Products' shares fell by 1 percent following reports that the company plans to "calibrate" its strategy for opening new Starbucks locations in the near term.
Mindspace REIT experienced a 1.4 percent decline after a notable 9.2 percent equity transfer occurred via a block deal.
HDFC Bank saw its shares drop by 1 percent in response to receiving a warning from SEBI regarding non-compliance with listing regulations.
Wipro shares edged slightly lower following the announcement of its acquisition of Massachusetts-based IT services consulting firm Applied Value Technologies (AVT) for $40 million.
The material has been provided by InstaForex Company -
www.instaforex.com
