Indian shares opened lower on Monday, tracking weak global markets after Amazon reported a surprise loss and issued weak revenue guidance for the second quarter, adding to concerns over higher interest rates, the Russia-Ukraine conflict and Covid-related shutdowns in China.
The benchmark BSE Sensex dropped 370 points, or 0.7 percent, to 56,692 while the broader NSE Nifty index was down 120 points, or 0.7 percent, at 16,982.
Sun Pharma, SBI Life, Asian Paints, Titan Company and Apollo Hospitals gave up 2-3 percent while IndusInd Bank jumped as much as 3.6 percent after posting strong earnings on lower provisioning.
HDFC rose 0.6 percent after hiking lending rates.
Maruti Suzuki edged down slightly on reporting a dip in April sales.
UltraTech Cement advanced 1.2 percent on reporting a 47 percent rise in Q4 consolidated profit.
Yes Bank jumped 2.6 percent after reporting a 38 percent rise in quarterly profit.
Tata Coffee and Tata Consumer Products both fell over 1 percent on merger news.
IDFC First Bank gained half a percent after it posted over two-fold rise in net profit in the March 2022 quarter.
Sensex Down 370 Points In Early Trade; Nifty Dips Below 17,000
2022-05-02 04:35:32
