Indian Shares Edge Lower On Tariff, Middle East Concerns

(RTTNews) - Indian shares opened lower on Friday as tariff worries and uncertainty over efforts to reopen the Strait of Hormuz overshadowed easing Fed rate-hike bets.

The benchmark BSE Sensex was down 252 points, or 0.3 percent, at 77,827 in early trade while the NSE Nifty index dipped 54 points, or 0.2 percent, to 24,342.

NTPC, Axis Bank, Sun Pharma, Mahindra & Mahindra, Tech Mahindra and Tata Steel were down 1-2 percent.

Tata Motors Passenger Vehicles slumped 4.5 percent after quarterly profit declined 80 percent.

Bharat Dynamics, 3M India and Ashok Leyland were moving higher ahead of their quarterly results due today.

LG Electronics India soared 6 percent after delivering strong Q1 results.

Welspun Living soared 10 percent after Q1 profit jumped 83 percent from last year. Technocraft Industries surged 11 percent on reporting a 69 percent jump in first-quarter profit.

Engineers India rallied 2.2 percent after Q1 EBITDA jumped 75 percent.