Indian shares opened lower on Monday, with weak global cues and concerns about Adani Group’s governance and disclosures keeping investors nervous.
The benchmark S&P/BSE Sensex dropped 238 points, or 0.4 percent, to 60,604 in early trade, while the broader NSE Nifty index was down 93 points, or half a percent, at 17,760.
Adani Enterprises extended recent losses to trade over 5 percent lower while Hindalco, HDFC Life, Eicher Motors and Divis Laboratories fell 2-4 percent.
Axis Bank, ITC, Adani Ports and IndusInd Bank were up 1-2 percent.
Vodafone Idea shares jumped 15 percent after a long-awaited equity conversion plan was cleared, paving the for the government to become the largest shareholder in the company.
Tata Steel declined nearly 2 percent ahead of its earnings release.
SBI dropped half a percent despite posting record profit in Q3.
DMart fell around half a percent on repots It has bought as many as 28 housing units worth Rs 1,238 crore in Mumbai.
IDFC First Bank rose over 1 percent on fund raising reports.
ONGC slipped half a percent on reports it is looking at tie-ups with private companies to monetize discoveries quickly.
Kotak Mahindra Bank fell 1.3 percent on reports it is in fray to acquire a stake in IDBI Bank.
Market Analysis
Sensex, Nifty Slip Into Red In Early Trade
2023-02-06 04:31:30
