INDIAN BENCHMARKS opened lower tracking weakness in Asia, financials and index heavyweights leading the decline. Gail India would see some action on plans to enter LNG business and acquiring upstream assets in Tanzania. Among the index heavyweights Reliance Ind was down 1% on reports that the company has been fined $792 million for producing less than natural gas from its eastern offshore.
FUTHER, Shares of Future Retail fell 4 percent as the National Stock Exchange decided to remove the stock from its F&O segment. Jet Airways will be in action after its board approved sale of the Jet Privilege Frequent Flyer Programme business of the company to its arm Jet Privilege Pvt Ltd.
Trend in FII flows: The FIIs were net buyers of Rs 2626cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 994cr, as per the provisional figures released by the NSE.
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