Sensex, Nifty Open Lower On Tariff Jitters

(RTTNews) - Indian shares were subdued on Wednesday as U.S. President Donald Trump announced a trade deal with Indonesia, adding the United States is close to securing full trade access into India.

India is taking a "wait and watch approach" with a senior government official telling PTI that the government will decide how to respond to the upcoming U.S. tariffs only after fully understanding their impact.

The benchmark S&P/BSE Sensex was down 125 points, or 0.2 percent, at 82,445 in early trade while the broader NSE Nifty index slid 58 points, or 0.2 percent, to 25,137.

Among the prominent decliners, Tata Steel, Tata Motors and Mahindra & Mahindra were down around 1 percent each.

HDB Financial Services lost 2.4 percent on reporting a marginal decline in its first-quarter net profit.

Just Dial declined nearly 2 percent despite reporting 13 percent growth in quarterly profit.

HDFC Life Insurance rallied 1.5 percent after reporting a 14 percent year-on-year increase in Q1 net profit.

Dixon Technologies jumped 2.5 percent after it agreed to acquire a 51 percent stake in Kunshan Q Tech Microelectronics.

Biocon gained 1.5 percent as the U.S. drug regulator approved its key diabetes treatment drug.