Indian Shares Open Lower As Brent Jumps Above $90 A Barrel
(RTTNews) - Indian shares opened lower on Monday, tracking weak cues from global markets and amid caution ahead of MSCI's index rejig.
Inflation and interest-rate concerns returned to the fore as Brent crude prices jumped nearly 3 percent to above $90 a barrel following fresh U.S. attacks on Iran for the first time in around a month.
The benchmark 30-share BSE Sensex was down 350 points, or half a percent, at 76,915 in early trade while the NSE Nifty index slipped 136 points, or 0.6 percent, to 24,036.
HDFC Bank shares rose about 2 percent after Sashidhar Jagdishan conveyed his decision not to seek his re-appointment as the managing director & chief executive officer of the bank.
SBI fell about 1 percent. The state-run lender and its subsidiary SBI Capital Markets together plan to dilute up to 1 percent stake in the National Stock Exchange (NSE) through the exchange's proposed Rs 30,000-crore IPO.
Ola Electric Mobility declined 1.3 percent despite securing Rs. 95.81 crore under the government's PLI-Auto Scheme for FY 2026-27.
Ashoka Buildcon soared 13 percent on bagging a Rs. 602.16 crore contract from Rail Vikas Nigam Limited.
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