Indian shares opened lower on Monday, tracking mixed cues from global markets as investors continued to assess the impact of new Western sanctions on Russia and the Fed’s plans to shrink its balance sheet.
The benchmark S&P BSE Sensex slumped 402 points, or 0.7 percent, to 59,044 in early trade, while the broader NSE Nifty index was down 99 points, or 0.6 percent, at 17,685.
Among the prominent decliners, Dr Reddy’s Laboratories, Reliance Industries, Larsen & Toubro, Wipro, Hindustan Unilever, HCL Technologies and Infosys dropped 1-2 percent.
TCS was down about half a percent ahead of its Q4 earnings release.
Bharti Airtel and Vodafone Idea were seeing modest gains after the Department of Telecom (DoT) returned bank guarantees (BGs) of the companies.
Ruchi Soya surged more than 5 percent after becoming a debt-free company.
Tata Motors advanced 0.7 percent despite its JLR unit reporting 36 percent year-on-year decline in retail sales in the fourth quarter of 2021-22 fiscal.
Jindal Steel and Power added 1.7 percent on reports the company plans to set up a coal gasification plant at its Raigarh plant in Chhattisgarh.
Bandhan Bank slipped half a percent. France’s Societe Generale has acquired 1.18 percent stake in the private sector lender via open market transactions.
Sensex Down Over 400 Points; Nifty Dips Below 17,700
2022-04-11 04:33:30
