(RTTNews) – Indian shares opened a tad lower on Friday after China Evergrande Group and Kaisa Group Holdings officially defaulted on their dollar debt, fueling worries about a broader contagion.
Investors also awaited a report on U.S. consumer inflation due to be released later in the day that could impact the outlook for Fed policy.
The benchmark 30-share BSE Sensex dropped 177 points, or 0.3 percent, to 58,630 in early trade, while the broader NSE Nifty index was down 32 points, or 0.2 percent, at 17,484.
Bajaj FinServ, HDFC, Tech Mahindra, Divis Laboratories and Titan Company all fell about 1 percent while Sun Pharma, Adani Ports and Asian Paints were up 2-3 percent.
TVS Motor Company gained half a percent after it partnered with Active Motors.
Mahindra & Mahindra rallied 1.8 percent after it signed a deal with Jio-BP to accelerate EV adoption in India.