Indian shares opened a tad lower on Monday as investors fretted over rising bond yields and climbing Covid-19 infections in the country.
The benchmark BSE Sensex dropped 180 points, or 0.4 percent, to 49,676 in early trade, while the broader NSE Nifty index was down 44 points, or 0.3 percent, at 14,699.80.
IndusInd Bank, Reliance Industries, ICICI Bank, Tata Motors and Power Grid Corp fell 1-2 percent, while GAIL, Divis Laboratories, Cipla and BPCL all rose over 1 percent.
Future Retail slumped 5 percent after it filed an appeal against a Delhi High Court ruling which raised hurdles to the sale of its assets to Reliance Industries. Shares of the latter dropped 1.2 percent.
TCS was little changed on reports that it will hand out across-the-board salary increments for 2021-22.
NMDC rose over 1 percent on the price hike buzz.
Adani Green Energy jumped 5 percent after it signed a share purchase agreement with SkyPower Global.
Tata Power Company gained more than 1 percent after the Competition Commission of India approved its acquisition of 51 percent stake in the North Eastern Electricity Supply Company of Odisha (NESCO).
GAIL, BPCL, HPCL and IOC all were moving higher on reports that the first oil-sector infrastructure investment trust will be floated by GAIL (India) by the end of 2021-22.
Market Analysis
Sensex, Nifty Open Tad Lower
2021-03-22 04:08:26
