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Indian shares opened on a tepid note Wednesday, tracking weak cues from Asia and a decline in U.S. stock futures after Fitch downgraded the U.S. government’s credit rating from AAA to AA+, citing a steady deterioration in standards of governance.<\/p>\n
The benchmark S&P BSE Sensex was down 332 points, or half a percent, at 66,127 in early trade, while the broader NSE Nifty index was down 99 points, or half a percent at 19,634.<\/p>\n
Hero MotoCorp, Hindalco, Tata Consumer Products, Divis Laboratories and Tata Steel fell 1-2 percent in the Nifty pack while Coal India and Adani Group stocks such as Adani Ports and Adani Transmission were seeing modest gains.<\/p>\n
Ambuja Cements rose 0.6 percent on reports that it is all set to acquire a majority stake in operations of Sanghi Industries.<\/p>\n
Adani Total Gas gained 0.9 percent on reporting 9 percent growth in Q1 profit.
Cholamandalam Investment fell nearly 2 percent despite reporting a 28 percent rise in quarterly profit. <\/p>\n
DLF dropped 1.4 percent after one of its top shareholders, Kushal Pal Singh, sold 14.5 million shares in the company. <\/p>\n
Ashok Leyland gained half a percent after reporting 12 percent growth in domestic sales in July. <\/p>\n
TVS Motor Company rallied 1.4 percent on reporting a 4 percent rise in sales in July. <\/p>\n
Titan Company edged down slightly ahead of its earnings release. <\/p>\n<\/p>\n<\/div>\n