Sensex, Nifty Decline Amid Trump's Tariff Threats
(RTTNews) - Indian shares opened lower on Monday as Chinese industrial profits and manufacturing data disappointed, and the U.S. and Colombia pulled back from the brink of a trade war.
The South American nation has reportedly agreed to accept military aircraft carrying deported migrants after U.S. President Donald Trump had threatened tariffs and sanctions on the country to punish it for earlier refusing to accept military flights carrying deportees as part of his sweeping immigration crackdown.
The benchmark S&P/BSE Sensex dropped 350 points, or half a percent, to 75,836 in early trade while the broader NSE Nifty index was down 122 points, or half a percent, at 22,970.
JSW Steel declined 2.6 percent after quarterly profit plunged 70 percent year-on-year.
Godrej Consumer Products fell about 1 percent on reporting a 14 percent fall in Q3 net profit.
Trent, HCL Technologies, Power Grid Corp and BEL all were down around 2 percent. FMCG stocks traded higher, with Nestle India, Hindustan Unilever and Britannia Industries rising 1-2 percent.
Religare Enterprises rose over 1 percent. The Burman Group has rebutted claims made by U.S.-based investor Digvijay Gaekwad about making an open offer for the company.
DLF soared more than 4 percent after Q3 net profit jumped 61 percent year-on-year.
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