Sensex, Nifty open lower as economic slowdown weighs

Reuters Updated - December 02, 2024 at 09:43 AM.

Nifty was down 0.41 per cent at 24,034.2 points, as of 9.21 am, while the Sensex lost 0.51 per cent to 79,383.59

Indian shares opened lower on Monday, as concerns over domestic growth and its effect on the central bank's monetary policy decision later this week weighed on investor sentiment.

The NSENifty 50 was down 0.41 per cent at 24,034.2 points, as of 9.21 am, while the BSESensex lost 0.51 per cent to 79,383.59.

Data released late Friday showed that India's economic growth decelerated more than anticipated in the third quarter, hindered by slow momentum in manufacturing and consumption. The data is likely to increase pressure on the Reserve Bank of India to lower its interest rates and dampen market sentiment.

The RBI is expected to hold rates at its meeting on December 6.

Nine of the 13 major sectors saw a decline. The broader, more domestically focused small-cap and mid-cap indexes opened flat.

Published on December 2, 2024 04:11

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