Nifty struggles below 9650; L&T gains, Tata Motors sees profit booking
Equity benchmarks opened moderately lower on Wednesday, with the Nifty breaking 9650 level on weak Asian cues.
The 30-share BSE Sensex was down 45.77 points at 31,251.76 and the 50-share NSE Nifty fell 22.05 points to 9,631.45.
HDFC, Tata Motors, Infosys, ICICI Bank, HDFC Bank and ONGC were under pressure while L&T, Reliance Industries, Asian Paints and HUL were gainers.
Amtek Auto and Castex Technologies and Metalyst Forgings rallied 6-13 percent after a media report indicated that 21 investors are in fray for Amtek Auto sale.
Berger Paints, Jet Airways, Monnet Ispat, Bhushan Steel, Jaypee Infra, Jaiprakash Associates and VST Tiller gained 1-4 percent.
The Indian rupee also declined in early trade. It has opened lower by 13 paise at 64.63 per dollar versus 64.50 Tuesday.
Asian bourses traded mostly lower following MSCI's decision to add mainland Chinese stocks to its emerging markets index gradually and as oil prices slipped around 2 percent overnight. The Nikkei 225 declined 0.44 percent and the Kospi fell 0.6 percent.
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