Live
- Alliance candidates set to sweep in Anakapalli, says Defence Minister Rajnath Singh
- All depts coordination meet held for Haj 2024
- Ex-RBI Guv launches book on his life journey
- Cyberabad police bust diesel smuggling gang
- Hyderabad: Workshop held on preventing wildlife crimes
- Pulivendula: Countdown for Jagan’s fall began, says Ravi
- ‘Many bureaucrats still working as YSRCP activists’
- Sec'bad Cantt bypoll: Residents root for merger with GHMC to end woes
- Timetable out for Adv Suppl exams
- 22 TSREIS Jr colleges record 100% pass
Sensex falls over 1 percent; ITC slumps
Highlights
The BSE Sensex fell on Monday, tracking weaker regional shares as fears about earlier-than-expected U.S. rate hikes weighed on sentiment, while cigarette maker ITC (ITC.NS) slumped after posting lower-than-expected earnings.
The BSE Sensex fell on Monday, tracking weaker regional shares as fears about earlier-than-expected U.S. rate hikes weighed on sentiment, while cigarette maker ITC (ITC.NS) slumped after posting lower-than-expected earnings.
Federal Reserve Chair Janet Yellen indicated on Friday the U.S. central bank was poised to raise interest rates this year if the world's top economy improved as expected.
Caution also prevailed ahead of gross domestic product growth data due on Friday. Domestic shares have been on a solid path so far this month, recovering from a volatile April amid continued hopes of an economic recovery.
"The worst is behind us, things should improve. The government is continuing with investment acceleration" said G. Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.
The Sensex and the Nifty were trading down over 1 percent each.
Trading was subdued given U.S. and U.K. markets will be closed on Monday for respective holidays.
Among individual movers ITC fell 3.5 percent after India's largest cigarette maker reported on Friday lower-than-expected earnings as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.
Tata Motors Ltd (TAMO.NS) fell 1.2 percent due to caution ahead of its January-March earnings due on Tuesday, with traders citing uncertainty about the performance of key unit Jaguar Land Rover in China.
Shares of HCL Technologies Ltd (HCLT.NS) however rose 1.5 percent, heading for a sixth consecutive day of gains as traders cited attractive valuations after falls in March and April.
Next Story
ADVERTISEMENT
