Sensex, Nifty Extend Losses For Fifth Day

(RTTNews) - Indian shares edged lower at open on Friday, extending losses for a fifth day running amid concerns that U.S. President-elect Donald Trump's fiscal, trade and tariff policies could prompt the Federal Reserve to end its rate-cutting cycle.

The benchmark S&P/BSE Sensex was down 292 points, or 0.4 percent, at 78,825 in early trade while the broader NSE Nifty index dipped 67 points, or 0.3 percent, to 23,884.

Among the prominent decliners, Larsen & Toubro, UltraTech Cement, JSW Steel, Tech Mahindra and Axis Bank fell 1-2 percent.

Acme Solar rallied 2 percent after commissioning a 1,023 MW solar capacity project in Rajasthan.

Tata Consumer Products rose about 1 percent. The company has denied reports of coffee chain operator Starbucks mulling an exit from India.

Amara Raja Energy & Mobility rose half a percent. Hyundai Motor India said it will use Amaron batteries in its vehicles going forward. DOMS Industries fell about 1 percent after its Italian promoter FILA Group sold a 4.6 pe cent stake worth Rs 798 crore in the company.

Indian Oil Corp gained half a percent on news it will invest Rs 21,000 crore towards expanding its refinery in Bihar.

SpiceJet declined 2 percent after settling its dispute with aircraft lessor Genesis over the repayment of dues worth $16 million.