Finance
On Monday, Indian shares fell ahead of domestic retail inflation data due later in the day, while the ongoing uncertainty and spillover effects from the Adani Group’s market rout remained a concern.
The Nifty 50 index fell 85 points to close at 17,770, while the S&P BSE Sensex fell 250 points to close below 60,500, at 60,431.
All sectoral indices finished in the red, with IT, Metal, Realty, Media, and PSU Bank all losing more than 1%. No sector saw significant gains, but FMCG closed flat.
Adani stocks fell further after Moody’s downgraded the outlook on four of their stocks from stable to negative. Adani Enterprises was down 7.5%, while Adani Ports was down 5.5%. SBI and Infosys also finished lower, losing more than 2.5%. Titan, L&T, NTPC, Bajaj Auto, and Eicher Motors all increased in trading today.
Titan (up 1.41%), Tata Steel (up 1.15%), Power Grid (up 0.56%), Larsen & Toubro (up 0.56%), and Bharti Airtel (up 0.51%) were the top gainers on the Sensex, while State Bank of India (down 2.54%), Infosys (down 2.17%), Mahindra & Mahindra (down 1.77%), TCS (down 1.49%), and Tech Mahindra (down 1.22%).
Asian and US stock markets
Asian markets were trading mostly in green in the early morning trade. Japan’s Nikkei 225 fell 316.17 or 1.41% to 27,354.81, Hong Kong’s Hang Seng dipped 220.98 pts or 1.04% to 20,969.44 and China’s Shanghai Composite index rose 12.66 pts or 0.39% to 3,273.33.
The US equity indices ended Friday’s session mixed. The Dow Jones Industrial Average rose 169.30 pts or 0.50 % to 33,869.27, S&P 500 rose 8.96 pts or 0.22% to 4,090.46 and Nasdaq fell 71.46 pts or 0.61% to 11,718.12.
Source:FE
