India’s benchmark indices slid for the fifth straight session on Monday – the Bombay Stock Exchange Sensex closed 297.68 points down at 31,624.76, and the National Stock Exchange Nifty ended 91.80 points lower at 9,872.60. Geopolitical tensions surrounding North Korea and selling by retail investors dragged the markets down.
In afternoon trade, Sensex had shed over 400 points before recovering. All sectoral indices traded down, though metal, capital goods, healthcare and consumer durables were the worst performers.
On the Sensex, shares of Adani Ports, ITC, Larsen & Toubro and Tata Steel suffered major losses, whereas Coal India, ICICI Bank, Hindustan Unilever and the Power Grid Corporation of India gained the most. Tata Power, Coal India, Zee Entertainment and ICICI Bank were the top gainers on the Nifty. Stocks of ACC, Aurobindo Pharma and Adani Ports fared the worst.
In early trade, retail major Shoppers Stop Ltd had surged 20% after it approved a proposal to sell 5% equity in the company for Rs 179.25 crore to the investment arm of the world’s largest online retailer, Amazon Inc.
At 2.08 pm, the rupee was trading at 65.01 a dollar, 0.31% lower than its Friday’s close of 64.80. The Indian currency had opened at 64.86 a dollar and touched a low of 65.03.
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