Sensex, Nifty Open Lower Amid Stimulus Uncertainty

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(RTTNews) – Indian shares opened a tad lower on Thursday, tracking weak global markets as coronavirus counts continued to climb in Europe and North America and it remained unclear whether U.S. stimulus negotiations would continue ahead of the presidential election to be held on November 3.

The benchmark S&P BSE Sensex dropped 140 points, or 0.35 percent, to 40,565 in early trade, while the broader NSE Nifty index was down 39 points, or 0.3 percent, at 11,898.

Bajaj Finance rose 1.2 percent despite the company reporting a 36 percent fall in its Q2 profit.

SBI fell over 1 percent after it announced up to 25 bps concession on home loan rates.

DLF edged down slightly after it signed an anchor deal with Standard Chartered GBS for its office building in Chennai.

Colgate Palmolive dropped half a percent despite reporting a 12.3 percent jump in its Q2 profit.

Vedanta rallied 2.7 percent ahead of a board meet on October 24 to consider an interim dividend.

Mangalore Refinery & Petrochemicals jumped nearly 4 percent on fund raising reports.

Federal Bank declined 1.5 percent after data showed Rakesh Jhunjhunwala has reduced stake to 2.71 percent from 3.18 percent in the bank.

Asian Paints shed 1.2 percent and Bajaj Auto slid half a percent ahead of their earnings announcements.

Bastion Balance Seoul, Korea.