Indian shares fell sharply on Thursday, as investors grappled with rising bond yields, surging oil prices and the recent rise in Covid-19 cases in many states.
The benchmark S&P BSE Sensex slumped 634 points, or 1.2 percent, to 50,810 in early trade, after three days of gains.
The broader NSE Nifty index was down 180 points, or 1.2 percent, at 15,064, with metal companies and financials pacing the decliners.
Hindalco, Bajaj FinServ, JSW Steel, HDFC and Tata Steel tumbled 2-3 percent.
Indian Oil was slightly lower amid news that it plans to monetize its hydrogen-producing facilities to raise about Rs 10000 crore.
Adani Ports and Special Economic Zones advanced 1.6 percent after it agreed to buy a Rs 1,954-crore stake in Gangavaram Port Ltd. from Warburg Pincus.
HDFC fell 2.6 percent after cutting home loan rates.
Balrampur Chini Mills, Shree Renuka Sugars and Sakthi Sugars were declining after reports that sugar output in the country rose by a fifth to 23.38 million tons in the first five months of the 2020-21 marketing year.
YES Bank dropped 1 percent on fund raising reports.
Bharti Airtel gave up half a percent. The telecom major has raised $750 million through issuance of unsecured senior fixed rate notes.
Sensex, Nifty Fall Over 1%
2021-03-04 04:13:13
