Sensex Down over 300 points; Refined dips under 17,950

(RTTNews) – Indian stocks opened lower Wednesday amid muted global signals as a surge in oil prices and Chinese factory gate prices added to inflation concerns.

The 30-stock BSE Sensex fell 345 points, or 0.6 percent, to 60,088, while the broader NSE Nifty index fell 94 points, or half a percent, to 17,949.

BHEL slumped 5.6 percent after posting a quarterly loss.

Bank of Baroda, Berger Paints and CRISIL all fell ahead of their earnings results due today.

HDFC fell 1.4 percent after it announced it would raise Rs.3,000 billion through the issuance of bonds on a private placement basis.

InterGlobe Aviation grew over 1 percent and SpiceJet 1.5 percent after domestic air passenger traffic saw a slight sequential increase for the week ended November 6.

MRF declined slightly after reporting a 54 percent decline in net income in the second quarter. Mahindra & Mahindra gained 2.5 percent. The company plans to launch 13 new SUVs by 2027, eight of which will be electric.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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