Indian shares opened down 1.1 percent on Monday, tracking regional Markets that fell on worries about rising inflation and record high oil prices, and shares in Reliance Communications fell on news it was in talks with South Africa’s MTN Group.
Reliance Communications opened down 1.3 percent at 565 rupees after it said it was in exclusive talks with MTN, while bigger rival Bharti Airtel opened 3.1 percent higher at 862.50 rupees after saying at the weekend it had ended takeover talks with MTN.
At 9:57 a.m., the 30-share BSE index was down 1.36 percent, or 226.17 points, at 16,423.47, with Bharti Airtel the only stock to rise.
The broader 50-issue NSE index was down 1.33 percent at 4,881.00 points.
Bharti Airtel went up 4% in early trade after the deal has cancelled with MTN, South African telecom company.
Bajaj Finserv listed at Rs 545 and Bajaj Auto at Rs 725 after scheme of demerger.
Take Solutions board approved 10-for-1 stock split. The stock was up marginally.
Asian markets were trading lower. Shanghai Composite was down 2.59% or 89.89 points at 3,383.20. Hang Seng fell 2.01% or 496.81 points at 24,217.26. Nikkei 225 Average slipped 260.33 points or 1.86% at 13,751.87. Jakarta Composite was down 38.24 points or 1.55% at 2,427.71. Straits Times fell 0.77% or 23.99 points at 3,098.16. Seoul Composite went down 1.49% or 27.17 points at 1,800.77. Taiwan Weighted fell 0.74% or 65.36 points at 8,769.37.
US markets stocks fell on concerns about a worsening housing recession and rising crude prices put renewed pressure on a market besieged by worries that inflation will crimp consumption and further weaken the economy. The Dow plunged 145.99 points, or 1.16%, to 12,479.63. The Standard & Poor’s 500 index declined 18.42 points, or 1.32%, to 1,375.93, and the Nasdaq composite index fell 19.91 points, or 0.81%, to 2,444.67.
No comments:
Post a Comment