India's equity benchmarks open lower, dragged by Bajaj Finance
The Nifty 50 (.NSEI), opens new tab fell 0.47% to 24,940.85 points and the BSE Sensex (.BSESN), opens new tab lost 0.42% to 81,829.3 as of 9:17 a.m. IST.
Fifteen of the 16 major sectors declined at the open. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab fell 0.5% each.
Non-bank lender Bajaj Finance (BJFN.NS), opens new tab slid 5.1% as multiple brokerages flagged asset quality stress in the MSME segment after the company reported a profit beat in the June quarter. Bajaj Finance was the top Nifty 50 loser.
Meanwhile, although the India-UK agreement should boost sentiment, the market is unlikely to see any major upside until there is clarity on U.S. trade negotiations, analysts said.
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