(RTTNews.com) – Indian shares were subdued on Thursday after Moody’s Investors Service warned that higher oil prices and interest rates might add to existing pressure on India’s fiscal and the current account deficit.
Investors also kept an eye on rupee after the currency plunged by 49 paise to close at 70.59 per dollar the previous day, marking its biggest single-day drop since August 13.
The benchmark BSE Sensex was down 37 points or 0.10 percent at 38,685 in early trade while the broader Nifty index was down 20 points or 0.17 percent at 11,672.
Reliance Infrastructure slid half a percent after completing sale of its integrated Mumbai energy business to Adani Transmission.
Aditya Birla Capital jumped 4 percent after it joined hands with Varde Partners to create a joint venture that will invest in stressed assets in India.
Laurus Labs rallied 2.6 percent on receiving the U.S. FDA approval for a diabetes drug.
ICICI Prudential Life Insurance shed half a percent after reducing its stake in Tata Chemicals.
Jain Irrigation climbed 2.4 percent on bagging a contract worth Rs 127 crore from the Rwandan government.
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