Sensex, Nifty Tumble Amid Global Sell-off; FMCG Stocks Buck Trend
(RTTNews) - Indian shares fell notably on Monday as investors retreated from riskier assets amid lingering concerns about high inflation, rising interest rates and a possible global recession.
The benchmark S&P BSE Sensex fell 460 points, or 0.8 percent, to 57.642 in early trade, while the broader NSE Nifty index was down 141 points, or 0.8 percent, at 17,186.
The rupee fell to a record low of 81.54 as the greenback hit a fresh two-decade high against six other peers.
Hero MotoCorp, Apollo Hospitals, Tata Motors, Hindalco and Power GridCorp gave up 3-6 percent in the Nifty pack, while FMCG stocks such as Nestle India and Hindustan Unilever were rising on defensive buying.
TCS fell 1.2 percent. The company has asked its employees to work from office for at least 3 days a week and warned of "administrative measures" for those who don't comply.
BPCL rose 0.7 percent after it signed an agreement with Brazil's Petrobras to help it diversify its crude oil sourcing.
Oil lndia lost 2 percent despite posting its highest ever profit in 2021-22 financial year.
Campus Activewear declined 2.2 percent. The company has approved its merger with its wholly owned subsidiary Campus AI.
Unichem Laboratories slumped 2.5 percent. The company has liquidated its 19.97 percent stake in Optimus Drugs.
Suzlon Energy plummeted 4.3 percent on fund raising reports.
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