Indian shares tumbled on Monday on concerns over growth and interest rates, as Shanghai tightened COVID restrictions and benchmark 10-year U.S. Treasury yields hit their highest since November 2018.
The benchmark S&P BSE Sensex slumped 730 points, or 1.3 percent, to 54,105 while the broader NSE Nifty index was down 217 points, or 1.3 percent, at 16,194.
Among the prominent decliners, JSW Steel, Tata Steel, Tata Motors, IndusInd Bank and Tech Mahindra fell 3-4 percent.
Reliance Industries gave up 2.3 percent after it reported a 22.50 percent year-on-year rise in consolidated net profit for the March quarter, missing Street estimates.
ICICI Bank declined 1.6 percent and HDFC fell about 1 percent after hiking lending rates.
Shipping Corporation of India tumbled 3.3 percent on demerger news.
Tata Power plunged as much as 7.6 percent despite reporting a 31 percent rise in Q4 net profit.
Mindtree dropped 1.3 percent while L&T Infotech advanced 1.8 percent on merger news.
Jet Airways jumped 5 percent after it received security clearance from the government.
HCL Technologies edged up slightly after it signed a pact to acquire Switzerland-based Confinale AG to increase its footprint in the global wealth management market.
Sensex Slumps 730 Points; Nifty Dips Below 16,200
2022-05-09 04:33:32
