BENGALURU, June 14 (Reuters) - Indian shares fell further
from their opening levels on Monday as Adani Ports SEZ and
financials stocks weighed, with investors awaiting consumer
price inflation data (CPI) for May due later in the day.
The blue-chip NSE Nifty 50 index slipped 0.48% to
15,722.85 and the benchmark S&P BSE Sensex lost 0.38%
to 52,282.87 by 0457 GMT.
"We are seeing a downtick in the market as news related to
Adani group stocks weighed on the sentiment. There is also some
profit-taking after the market has had a one-way run-up in the
previous sessions," said Ajit Mishra, vice president of research
at Religare Broking.
The overall trend would still be positive as long as the
Nifty 50 holds above the 15,400-level, he added.
Both the indexes posted their fourth straight weekly gain
last week, on hopes that the economy would return to normalcy
after several states eased COVID-19 pandemic restrictions.
In Mumbai trading, Adani Ports and Special Economic Zone Ltd
, fell as much as 18.9% and was the top drag to the
Nifty 50 index. The National Securities Depository Ltd has
frozen the accounts of three foreign funds that have a total
investment of 435 billion rupees in Adani group companies, the
Economic Times reported https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms
HDFC Ltd and HDFC Bank Ltd also weighed
on the Nifty 50, losing 1.3% and 0.8%, respectively.
Meanwhile, the CPI data is also in focus, with a Reuters
poll showing that the country's retail inflation likely rose
last month after a three-month low in April on higher food and
Among global cues, eyes will also be on the U.S. Federal
Reserve's policy meeting this week. The central bank has assured
that rising inflation will not last long enough to warrant a
sooner-than-expected end to easy-money policies.
(Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)