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Indian shares fell sharply on Thursday, as investors grappled with rising bond yields, surging oil prices and the recent rise in Covid-19 cases in many states.<\/p>\n
The benchmark S&P BSE Sensex slumped 634 points, or 1.2 percent, to 50,810 in early trade, after three days of gains. <\/p>\n
The broader NSE Nifty index was down 180 points, or 1.2 percent, at 15,064, with metal companies and financials pacing the decliners. <\/p>\n
Hindalco, Bajaj FinServ, JSW Steel, HDFC and Tata Steel tumbled 2-3 percent. <\/p>\n
Indian Oil was slightly lower amid news that it plans to monetize its hydrogen-producing facilities to raise about Rs 10000 crore.<\/p>\n
Adani Ports and Special Economic Zones advanced 1.6 percent after it agreed to buy a Rs 1,954-crore stake in Gangavaram Port Ltd. from Warburg Pincus.<\/p>\n
HDFC fell 2.6 percent after cutting home loan rates.<\/p>\n
Balrampur Chini Mills, Shree Renuka Sugars and Sakthi Sugars were declining after reports that sugar output in the country rose by a fifth to 23.38 million tons in the first five months of the 2020-21 marketing year.<\/p>\n
YES Bank dropped 1 percent on fund raising reports. <\/p>\n
Bharti Airtel gave up half a percent. The telecom major has raised $750 million through issuance of unsecured senior fixed rate notes. <\/p>\n<\/p>\n<\/div>\n