Indian shares fell sharply on Monday on the back of weak global cues as investors keep an eye on geopolitical tensions and await guidance on Fed’s quantitative tightening.
The benchmark 30-share BSE Sensex fell 493 points, or 0.8 percent, to 58,543 in early trade, while the broader NSE Nifty index was down 158 points, or 0.9 percent, at 17,458.
Pharma stocks succumbed to heavy selling pressure, with Divis Laboratories plunging 5 percent.
IT stocks extended their losing streak, with Tech Mahindra and Wipro falling around 3 percent each.
Zomato slumped 10 percent to a record low amid an ongoing plunge in the Nasdaq Composite index.
Commodity-related stocks such as Hindalco and JSW Steel were down around 3 percent.
Future Retail was little changed on reports it plans to move the Supreme Court, seeking an extension for its Rs 3,500 crore repayment to lenders.
Yes Bank rose over 1 percent on posting a 77 percent rise in quarterly profit.
PTC India Financial Services tumbled 4 percent. Market regulator SEBI has asked the company to not hold a board meeting until it addresses lapses in corporate governance and compliance.
Oil-to-telecom major Reliance Industries traded on a flat note after reporting sharply higher consolidated profit at Rs 20,539 crore in the third quarter.
Private sector lender ICICI Bank gained 0.6 percent on reporting over 25 percent growth in net profit for the December quarter, helped by lower provisioning and higher net interest income.
Sensex, Nifty Follow Global Peers Lower
2022-01-24 04:33:32
