Indian shares plunged on Friday after Ukrainian officials said Russian shelling caused a fire at a nuclear power plant in Ukraine.
The benchmark S&P BSE Sensex plunged 710 points, or 1.3 percent, to 54,392 in early trade, while the broader NSE Nifty index was down 237 points, or 1.4 percent, at 16,260.
Asian Paints led losses to slump as much as 5 percent on concerns that a steep rise oil crude prices would decrease its profitability and margins.
Mahindra & Mahindra, Tata Consumer Products, Hero MotoCorp and Maruti Suzuki India fell 2-3 percent while metal stocks like Tata Steel and Hindalco rose about 1 percent each on the back of higher commodity prices.
UPL advanced 1.6 percent on reports the agrochemical producer is attracting takeover interest from global competitors.
Eveready Industries was slightly lower. The firm’s chairman and managing director quit days after Burman family made an open offer to take control of the company.
Vodafone Idea tumbled 3.6 percent after its board approved a Rs. 14,500-crore fund raising plan.
Reliance Industries declined 1.5 percent as it begins to take operational charge of Future Group’s retail stores. Future Retail shares were up 1.4 percent.
Market Analysis
Sensex, Nifty Down Over 1% In Early Trade
2022-03-04 04:26:24
