BENGALURU: Indian shares opened marginally down on Thursday, dragged by declines in tech and auto stocks, amid fears that the strong US retail sales data could push the Federal Reserve to sustain its aggressive rate hike stance.: The S&P BSE Sensex slipped 0.17% to 61,876.93, as of 0346 GMT, after closing at an all-time high for the second straight session on Wednesday. The NSE Nifty 50 index edged 0.21% lower to 18,371.55. Among the laggards were Nifty’s IT, auto and public sector bank indexes, which declined 0.2% to 0.7%. One 97 Communications slid 9% as a term sheet reviewed by Reuters showed SoftBank Group aims to sell an up to $215 million stake in the Paytm parent. Tata Motors fell 2.4% as it said its top boss at Jaguar Land Rover unit, Thierry Bollore, will resign due to personal reasons. The MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.47% as stronger-than-expected retail sales data renewed expectations that the Fed will keep hiking rates and fuelled concerns about the economic outlook. Softer-than-expected US inflation data last week gave investors some solace that the Fed could curb its aggressive interest rate hikes, but the stronger October US retail sales could dash those hopes. Web Desk
