Indices Open Lower, Nifty Below 14200; Tata Motors Top Loser

At the start, Indian indices opened weak by as much as 0.47% on the Sensex at 48120, while Nifty was also dragged by the same scale to 14178. This is even as the IMF gave a robust growth forecast.

Early top gainers on the Nifty include stocks like HCL, Tech Mahindra, Adani Ports, SBI Life Insurance and Eicher Motors while laggards have been Tata Motors, JSW Steel, Reliance, Asian Paints and Tata Steel.

There will be traction in the Auto pack after the policy to junk motor vehicles over 15 years old owned by government and PSU department has been approved. On Monday, the centre said the likely implementation of such a policy shall come into place from April 1, 2022.

FMCG major Hindustan Unilever is also due to announce its Q3FY21 results which is expected to post double digit revenue growth.

Asian indices at the time of writing this copy were trading firm with Nikkei, Straits Times and Hang Seng all up in trade. Globally there has been mixed sentiment owing to delay in vaccine shipment, rising coronavirus cases and an escalation in US-China rift.

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