Indian shares succumbed to heavy selling pressure on Monday, mirroring weak global cues amid Russia-Ukraine tensions and fears of an aggressive rate hike by the Federal Reserve.
The benchmark 30-share S&P BSE Sensex fell 1,060 points or 1.8 percent to 57,092 in early trade, while the broader NSE Nifty index was down 340 points or nearly 2 percent at 17,035.
IndusInd Bank, HDFC Life, Tata Steel, HDFC and JSW Steel tumble 4-5 percent while TCS rallied 2.5 percent after its board approved an 18,000-crore share buyback.
ONGC rose 1.6 percent as oil surged toward $100 a barrel for the first time since 2014 on fears that a possible invasion of Ukraine by Russia could tighten supply.
Reliance Industries fell nearly 2 percent. The company is targeting to become one of the largest producers of blue hydrogen globally.
Bharti Airtel lost about 3 percent and Vodafone Idea slumped 4.2 percent on reports the long-awaited 5G spectrum auction is likely to be held in May this year.
Market Analysis
Sensex, Nifty Crash Amid Global Selloff
2022-02-14 04:42:40
