November 25, 2020

Market and Financial News Aggregator

Sensex, Nifty Drift Lower On Weak Global Cues

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Indian shares opened lower on Friday, tracking weak global cues amid a resurgence in coronavirus cases in the United States and Europe.

The benchmark S&P BSE Sensex dropped 225 points, or half a percent, to 43,132 in early trade, while the broader NSE Nifty index was down 74 points, or 0.6 percent, at 12,617.

Grasim Industries edged up marginally after it announced the sale of its fertilizers business to Indorama Corporation for Rs 2,649 crore.

Reliance Industries advanced 1.1 percent. The company said it will invest up to $50 million in Bill Gates-owned Breakthrough Energy Ventures.

Tata Consultancy Services fell 1.2 percent after it reportedly agreed to acquire Pramerica Technology Services from insurance giant Prudential Financial Inc.

Aurobindo Pharma was little changed. The drug maker said it is looking at possible tie-ups with companies to do contract manufacturing of Covid0-19 vaccines.

Wipro declined 0.7 percent after it announced a big restructuring exercise under a new CEO.

Indiabulls Real Estate soared 12 percent. Rakesh Jhunjhunwala-owned Rare Enterprises has picked up 1.1 percent equity stake in the company via an open market transaction.

Engineers India was moving lower on share buyback news.

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2020-11-12 23:21:17

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