FX.co ★ Sensex, Nifty Open Lower On Weak Global Cues

Indian shares commenced trading on a sluggish note Monday, as investors poised themselves for the upcoming U.S. inflation data release and remarks from Federal Reserve officials, which are anticipated to offer insight into the Fed's interest rate trajectory.

In early trade, the benchmark S&P BSE Sensex fell by 267 points, or 0.4%, reaching 76,942, while the broader NSE Nifty index declined by 70 points, or 0.3%, to 23,431.

Biocon saw a 1.3% drop after receiving four observations from the U.S. FDA concerning its facility in Andhra Pradesh.

Cipla similarly declined more than 2% following six observations from the U.S. health regulator for its Goa facility.

CarTrade Tech experienced a significant 3.4% tumble after the transfer of 71 lakh shares, equating to 15.1% equity, in block trades.

Nagarjuna Fertilizers plummeted 4.2% and GNFC slipped 3.6% after the GST Council relegated a proposal to lower the GST rate on fertilizers to the Group of Ministers (GoM) on rate rationalization for additional consideration.

Prestige Estates retreated 1% after its board sanctioned a proposal to raise up to Rs 5,000 crore through a Qualified Institutional Placement (QIP) issue.

On the positive side, Sun Pharma surged 2.1% on the announcement of its plan to introduce Takeda's gastrointestinal drug in India.

IREDA gained 1.8% after successfully completing a bond sale for fundraising purposes.

Lupin advanced 0.7% upon receiving the Establishment Inspection Report (EIR) from the U.S. FDA for its Somerset manufacturing facility.