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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.
Thai Shares Due To Open In The Red On Wednesday
Lower Open Anticipated For Indonesia Stock Market
Japanese Market Modestly Higher
Hong Kong Shares Tipped To Open To The Downside On Wednesday
Australian Market Significantly Lower
China Shares Tipped To Open In The Red On Wednesday
Taiwan Stock Market May Hand Back Tuesday's Gains
