Indian shares were deep in the red on Monday, mirroring weak global cues amid renewed concerns about risks from interest rate hikes.
The benchmark S&P BSE Sensex plunged 595 points, or 1.05 percent, to 56,601 in early trade, while the broader NSE Nifty index was down 202 points, or 1.2 percent, at 16,970.
Coal India, Britannia Industries, JSW Steel, Tata Steel and BPCL lost 3-4 percent while two-wheeler manufacturers Hero MotoCorp and Bajaj Auto were up 1-2 percent.
Religare Enterprises jumped more than 4 percent after resolving all legacy issues with market regulator SEBI.
Mahindra CIE Automotive soared 7.5 percent ahead of its earnings release.
Reliance Industries fell slightly after calling off the acquisition deal of Kishore Biyani-backed retail, logistics, and warehouse assets. Future Retail shares slumpd 5 percent.
ICICI Bank gained 1 percent after posting impressive results for the March quarter.
Market Analysis
Sensex, Nifty Down Over 1% On Weak Global Cues
2022-04-25 05:31:04
