Indian shares slipped on Monday as market heavyweight Reliance Industries saw its worst day in 10 months, leading energy stocks lower, and the return of COVID-19 restrictions in Europe weighed on investor sentiment.
fell as much as 4.18% to its lowest level in over two months, after the company said last week it had decided with Saudi Aramco to reevaluate a proposed $15 billion stake sale in its oil-to-chemicals arm to the Saudi oil producer.declined as much as 2.1%, led by losses in Reliance.
"Reliance shares are mainly driving the indexes down," said Kshitij Purohit, senior manager at CapitalVia Global Research Limited. However, the halt in the stake sale is unlikely to impact Reliance, which has other factors working in its favour, including a sharp recovery in refining margins, a possible hike in telecom prices and a strong retail business, according to Sumit Pokharna, VP Research at Kotak Securities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Heavy rains in southern Indian state kill 17, dozens missingAt least 17 people have died and dozens are reported missing in the southern Indian state of Andhra Pradesh after days of heavy rains, authorities said Saturday. The state has been hit by intense torrents since Thursday, sparking massive floods in at least five districts. Deaths from various districts have been reported over the past few days, with officials warning that the numbers could rise as rescue operations carry on.
Read more »
Steel prices could trend 'much higher' compared to the last 10 years, major Indian steelmaker saysThe steel market is going through several changes, including China's evolving role in the market and costs rising, said Tata Steel's CEO, T.V. Narendran.
Read more »
‘Pebbles’ Director & Producers Discuss Their Indian Oscar Entry About Domestic Violence – Contenders InternationalThe sobering story of Pebbles, about domestic violence in India, is inspired by an incident in filmmaker P.S. Vinothraj’s real-life past, in which his sister was “chased away by her husband” …
Read more »
India's Paytm slides for second day after debut debacleDigital payments firm Paytm fell 9.2% on Monday, sliding for a second session after a dismal debut for India's largest public offering last week, in which its shares tumbled more than 27%.
Read more »
Jewel Claps Back at Body-Shamers Who Called Her a 'Chubby Renée Zellweger'Demi Lovato, Lili Reinhart, Khloe Kardashian and more stars clapped back against critics who tried to body-shame them — see what they said
Read more »
Japan floated idea of national honour for MLB's Ohtani, but he declinedJapan floated the idea of presenting a prestigious national honour to Shohei Ohtani after the baseball star won one of the top awards in U.S. Major League Baseball - but he declined, saying it was still 'too early.'
Read more »