Indian shares opened sharply lower on Monday on concerns that rising Covid-19 cases in the country will hamper the economic recovery.
The benchmark S&P BSE Sensex plunged 1,230 points, or 2.5 percent, to 48,362 in early trade, with financials pacing the decliners. The broader NSE Nifty index was down 344 points, or 2.3 percent, at 14,490.
Among the prominent decliners, Adani Ports, Tata Motors, Bajaj Finance, SBI and IndusInd Bank slumped 5-7 percent.
Balrampur Chini Mills tumbled 3 percent. The sugar manufacturer said its board has cleared an investment of Rs 425 crore for a new distillery plant.
Castrol India lost about 2 percent despite a new order win.
Infosys advanced 1.3 percent on share buyback news.
TCS fell about 1 percent ahead of its earnings release.
Healthcare stocks were in focus after the government ordered prohibition on the export of Remdesivir drug and injection “till the Covid-19 situation in the country improves. Cipla rallied 2.3 percent and Dr Reddy’s Laboratories gained 1.2 percent.
Sensex, Nifty Drop Over 2% On Covid Worries
2021-04-12 04:25:55
