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Indices Open Lower, Nifty Drops To Below 14750; Rail Vikas Falls 7.5%


Indian indices tracking overnight losses in the US market opened lower. At the start, Sensex fell 324 points, while Nifty dropped over 90 points or 0.5% to 14731. Nifty Bank also tumbled by 0.73% or 250 points.

 Indices Open Lower, Nifty Drops To Below 14750; Rail Vikas Falls 7.5%

In early trade top gainers on the Sensex include stocks like Adani Ports, Asian Paints, Divis Labs, HUL and Bharti Airtel, while top laggards have been Tata Steel, ICICI Bank, ONGC, Hindalco and Tata Motors.

Among Nifty sectoral indices, all of the indices barring FMCG, Pharma and PSU Bank traded in the red.

The shares of specialty chemicals company Anupam Rasayan will debut on the bourses today. The company's IPO was subscribed 44 times and the issue garnered a total of Rs. 760 crore.

Shares of RIL will be in focus after Morgan Stanley referring to the Saudi Aramco's analyst call on Monday said the two firms are discussing stake purchase in the conglomerate's oil to chemical unit.

Rail Vikas Nigam shares surged after the government will pare 15% stake in the railway's entity through an OFS. Today, the OFS to sell 10% stake in the PSU firm would open for institutional investors, with a green option of selling an additional 5%. . The floor price for the sale has been fixed at Rs 27.50/ share.

Meanwhile at the time of writing this copy, Asian markets were also trading with losses, with maximum weakness in Hong Kong's Hang Seng index of 1.87%.

Crude oil futures were dragged over 6 percent owing to demand concerns for the commodity. In early trade, brent crude futures rose 0.4% to $61.06

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