Sensex opens 100 points lower, Nifty below 9,650 ahead of IIP, CPI data

Shares of state-owned electric utilities companies such as NHPC and SJVN rallied more than 5% each in early morning trade on reports that the government has decided to provide a Rs 16,000-crore bailout package to the hydropower sector, drowning under a spate of stalled and stressed projects.
“This package includes a 4% interest subvention to projects with total capacity of 11,639 Mw and the creation of a Hydro Power Development Fund. The fund would be financed with either coal cess, or from the National Clean Energy Fund or the pool for the Development of North Eastern Region (DONER),” the Business Standard report suggests. Nifty Trading Tips