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Sensex, Nifty Nosedive On Inflation, Recession Fears
(RTTNews) - Indian shares plummeted on Monday, tracking weak cues from global markets as White House officials showed no sign of backing away from their sweeping tariff plans.
The benchmark S&P/BSE Sensex was down 2,720 points, or 3.6 percent, at 72,620 after tariff woes and fears of a recession wiped out nearly $6 trillion in value from U.S. stocks last week.
The broader NSE Nifty index fell 880 points, or 3.8 percent, to 22,025.
Selling was seen across the board, with IndusInd Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Reliance Industries, TCS, Adani Ports, Infosys, Tech Mahindra, Larsen & Toubro, HCL Technologies and Tata Steel falling 4-9 percent.
ONGC and Oil India slumped more than 6 percent each as the price of crude oil extended losses after plummeting to its lowest levels in over three years on demand concerns.
Tata Motors plunged 8.5 percent as JLR haled its exports to the U.S. for one month due to a 25 percent import tariff imposed by the Trump administration.
FSN E-Commerce Ventures (Nykaa) fell 2.3 percent despite the company forecasting strong growth in Q4 of FY25.
Godrej Properties tumbled 5.8 percent after announcing a major expansion of its Mumbai portfolio with a new project in the sought-after area of Versova.
Mazagon Dock Shipbuilders declined 8 percent as the government said it will offer an additional 47.69 lakh shares (1.18 percent stake) in Mazagon Dock's offer-for-sale.
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