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(RTTNews) – Indian shares opened lower on Monday, mirroring weak cues from other Asian markets as investors fretted about more aggressive interest-rate hikes in the United States and surging COVID-19 cases in China.
The benchmark S&P BSE Sensex was down 462 points, or 0.8 percent, at 61,201 while the broader NSE Nifty index was down 145 points, or 0.8 percent, at 18,162.
Among the prominent decliners, Bajaj Finance, Hindalco, Adani Ports, Adani Enterprises and SBI Life all fell around 2 percent.
Maruti Suzuki India edged up slightly. The company said it plans to substantially increase its SUV market share this fiscal year.
ONGC gained 0.6 percent on news it will this year reverse years of decline in production and gradually raise output thereafter.
Metal stocks such as Tata Steel JSW Steel and Hindalco were trading lower despite the government withdrawing the export duty on steel products and iron ore.
Zomato fell 2.7 percent after the company announced plans to lay off nearly 3-4 percent of its workforce.
Easy Trip Planners soared 15 percent after it set the record data for a stock split and a bonus issue.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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