Nifty fall after global tech rout, coronavirus vaccine trial halt

  • Reuters
Nifty fall after global tech rout, coronavirus vaccine trial halt

BENGALURU, Sept 9 (Reuters) - Indian shares opened lower on Wednesday after a sell-off in U.S. technology stocks roiled Asian markets, while drug maker AstraZeneca's India unit ASTR.NS fell up to 12.3% after the parent paused global trials of its experimental COVID-19 vaccine.

The blue-chip NSE Nifty 50 index .NSEI fell 0.71% to 11,236.90, while the benchmark S&P BSE Sensex .BSESN was down 0.64% to 38,117.09 by 0349 GMT.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 1.12%, after heavyweight technology stocks were hammered overnight on Wall Street, sending the Nasdaq into correction territory. MKTS/GLOB

Sentiment was also dampened after AstraZeneca plc AZN.L paused late-stage trials of its COVID-19 vaccine candidate developed with the University of Oxford, widely seen as of one of the leading vaccine candidates against the coronavirus. all major sectors were trading lower, with the Nifty bank index .NSEBANK falling 1.07% and the Nifty energy index .NIFTYENR shedding 1.09%.

However, conglomerate Reliance Industries Ltd RELI.NS rose as much as 1.5% after the company said private equity firm Silver Lake would invest 75 billion rupees ($1.02 billion) in its retail arm. ($1 = 73.7050 Indian rupees)

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