Sensex, Nifty Open Lower As ECB Downgrades Growth Forecast

(RTTNews) - Indian shares opened on a tepid note Friday, tracking weak cues from global markets after the European Central Bank slashed its economic growth forecast, citing external uncertainties.

The benchmark BSE Sensex was down 42 points or 0.11 percent at 36,683 in early trade after four days of gains. The broader Nifty index was down 18 points or 0.17 percent at 11,039.

Vedanta, IOC, ONGC and Hindalco dropped 1-2 percent while NTPC, Infratel and Bharti Airtel rose around 1 percent.

Wipro tumbled 3.7 percent on reports that Azim Premji Trust plans to sell 26.67 million (2.6 crore) shares in the IT services major.

Reliance Capital shed 0.8 percent on news it plans to reduce its overall debt by Rs. 10,000-12,000 crore in the next three to four months through stake sales.

Reliance Industries was marginally lower after one of its arms signed a pact with Navi Mumbai SEZ.

Tata Motors gave up 0.9 percent as its JLR unit reported a 4.1 percent decline in global sales in February.
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