Sensex, Nifty Decline On Fed Worries
(RTTNews) - Indian shares were subdued in early trade on Monday as robust U.S. jobs data released on Friday fanned concerns that the Federal Reserve might stick with its hawkish stance.
The benchmark S&P Sensex was down 229 points, or 0.4 percent, at 62,640 while the broader NSE Nifty index was down 84 points, or half a percent, at 18,612.
Tata Motors, Reliance Industries, Britannia, SBI Life and Adani Enterprises fell 1-2 percent in the Nifty pack, while metal stocks such as JSW Steel, Tata Steel and Hindalco all rose around 2 percent on China reopening hopes.
SJVN surged 4.3 percent after its arm SJVN Green Energy bagged a 200 MW solar project worth Rs.1,200 crore from Maharashtra.
Bank of India rallied 2.6 percent after it raised Rs 1,500 crore through additional Tier I bonds.
Godrej Properties gained half a percent on news it has bought an 18.6-acre land parcel at Kandivali, in Mumbai for around Rs. 750 crore.
Inox Green Energy Services was little changed despite positing disappointing quarterly results.
Ion Exchange jumped 3.4 percent on bagging a contract worth Rs 343.36-crore from Indian Oil Corporation (IOC).
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