Indian stocks plummeted on Monday as the chances of a rise in the U.S. rate rise. The Federal Reserve has been hit hard by investors’ desire for risky assets, while Future Group shares have fallen after Reliance Industries withdrew its purchase agreement.
The NSE Nifty 50 index fell 1.27% to 16,957.15, from 0352 GMT, while the S&P BSE Sensex fell 1.25% to 56,508.91. Both indicators fell by more than 1% on Friday. Asian stocks also lost on Monday, with MSCI’s broader index of Asia-Pacific shares outside Japan falling 1.6% to six weeks.
In domestic trading, board-wide shares are slippery, with 49 out of 50 shares in the Nifty 50 trading index low. Private sector lender ICICI Bank is the only one that has made a profit, adding 1.5% after submitting its March quarterly results over the weekend.
Future Group companies slipped – Future Retail (FRTL.NS) down 5%, Future Consumer down 19.4%, and Future Enterprises down 9.5%. after Future debtors rejected it.
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