Sensex, Nifty Tumble On Weak Global Cues
(RTTNews) - Indian shares opened sharply lower on Monday as a weak July U.S. jobs report as well as disappointing earnings from the likes of Intel and Amazon ignited worries that the world's largest economy could be falling into a recession under the weight of the Federal Reserve's policy of high interest rates.
The benchmark S&P/BSE Sensex was down 1,550 points, or 1.9 percent, at 79,531 in early trade, mirroring a global sell-off. The broader NSE Nifty index dipped 478 points, or 1.9 percent, to 24,239.
LTIMindTree, Shriram Finance, Hindalco, ONGC and Tata Motors tumbled 3-4 percent in the Nifty pack while Britannia Industries and Sun Pharma both rose over 1 percent on defensive buying.
Bank of India slumped 4 percent as it reported a 10 percent rise in quarterly profit. NTPC dropped 2.1 percent after 3.66 million shares of the company changed hands in a block trade.
Divis Laboratories fell 1.8 percent despite reporting 21 percent year-on-year growth in Q1 net profit.
Singapore Bourse May Halt Losing Streak
Win Streak May Continue For Japan Stock Market
KOSPI Has Another Positive Lead For Tuesday
South Korea Import, Export Price Data Due On Tuesday
South Korea Export Prices Rise 0.7% In August
U.S. Dollar Falls Before Fed Decision
Swiss Market Ends Weak After Choppy Ride
