Indian shares ended with deeper cuts on Monday as weak listing of the country’s biggest-ever Paytm’s IPO, cancellation of RIL-Saudi Aramco deal, concerns over high valuations and heavy selling by foreign institutional investors added to the heightened volatility.
The benchmark 30-share S&P BSE Sensex plunged as much as 1,170 points, or 1.96 percent, to close at 58,465.89 while the broader NSE Nifty index ended down 348 points, or 1.96 percent, at 17,416.55.
Market heavyweight Reliance Industries slumped 4.4 percent after it shelved a proposed deal to sell a 20 percent stake in its oil refinery and petrochemical business to Saudi Aramco.
Among other prominent losers, NTPC, Tata Motors, Bajaj FinServ and Bajaj Finance dropped 4-6 percent.
Telecom major Bharti Airtel rallied 3.8 percent after increasing prepaid mobile tariffs by 20-25 percent and data top-up plans by 20-21 percent.
JSW Steel advanced 1.6 percent and Asian Paints added 1.1 percent.
Sensex Slumps 1,170 Points; Nifty Ends At 17,416
2021-11-22 11:42:35