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A spike in the US treasury benchmark which led to a fall in domestic equity indices also weighed heavily on the rupee

The Dow Jones Industrial Average fell 250.05 points, or 0.70 per cent, at the open to 35,661.76.

Following a strong technical pullback of over 1,800-points from the lows of 16,400, Nifty had got overextended on the charts

Adani Green Energy is now more valuable than the likes of Bajaj Finserv, Avenue Supermarts, Larsen & Toubro, ITC, Maruti Suzuki and Titan Company

The company had posted a consolidated profit after tax of Rs 112.15 crore in the same quarter previous fiscal, Trident Ltd said in a regulatory filing.

“This year, we would see the normalising of liquidity and interest rates which will have a downward effect on equity valuations. On the other hand, we are seeing the corporate profit cycle is rising and the earnings upgrade cycle is also continuing.”

In the international market, gold was trading marginally lower at $1,817 per ounce and silver was flat at $22.94 per ounce.

At the interbank foreign exchange market, the local currency opened at 74.36 against the American currency and witnessed an intra-day low of 74.60 during the session.

The Nifty Pharma index closed 1.19 per cent down at 13697.6.

Prabhudas Lilladher sees rationalisation of the tax and duty structure such as 18 per cent GST on all the auto components to minimise spurious and counterfeit products in aftermarket