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.
Asian Markets Trade Mixed
Sensex, Nifty Seen Opening Up On Wall Street Cues
Japanese Market Notably Higher
Yen Slides Against Majors
Yen Falls Against Majors
Canadian Dollar Rises As Crude Oil Prices Traded Higher
Canadian Dollar Rises Against Majors
