Indian shares slip as Reliance falls after Amazon tries to block Future deal – Amazon News

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A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis Mascarenhas/File Photo

BENGALURU (Reuters) – Indian shares opened lower on Wednesday, weighed down by heavyweight Reliance Industries after U.S. e-commerce giant Amazon.com requested a court to block Future Group’s $3.4 billion retail asset sale to the conglomerate.

The blue-chip NSE Nifty 50 index fell 0.57% to 14,157.30, while the benchmark S&P BSE Sensex slipped 0.56% to 48,059.52 by 0353 GMT.

Shares of Reliance Industries slipped 1.96% and was the top drag on the Nifty.

Future Retail opened 4.9% lower after Amazon.com asked the Delhi High Court to enforce a Singapore arbitrator’s decision and also called for Future Group’s chief executive officer to be detained.

Investors are also eyeing a slew of corporate results due later in the day, including private sector lender Axis Bank and consumer giant Hindustan Unilever.

Reporting by Philip George in Bengaluru; Editing by Rashmi Aich

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