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Sensex, Nifty Decline As Covid-19 Cases Increase
(RTTNews) - Indian shares were sharply lower on Tuesday, with rising Covid-19 cases in the country and U.S. tariff uncertainty keeping investors on edge.
Amid the resurgence of Covid-19 cases in Asia, India has logged 1009 active cases as of May 26.
The benchmark S&P BSE Sensex slumped 730 points, or 0.9 percent, to 81,445 in early trade while the broader NSE Nifty index tumbled 228 points, or 0.9 percent to 24,773.
Among the prominent decliners, ITC, TCS, Reliance Industries, Power Grid Corp, Tata Motors, Axis Bank, NTPC, Mahindra & Mahindra, Axis Bank, Eternal and UltraTech dropped 1-2 percent.
InterGlobe Aviation fell 2.2 percent after reports of stake sale by co-founder Rakesh Gangwal.
Similarly, Sagility India lost 5 percent after promoter Sagility B.V. announced an Offer for Sale (OFS) of up to 15.02 percent stake in the company.
Aurobindo Pharma rallied 2.1 percent despite reporting a marginal dip in Q4 profit. Nazara Technologies rose about 1 percent as Q4 revenue nearly doubled.
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