Sensex slides 80 points as March series turns shaky
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The Sensex slumped over 80 points to 28,813 on Monday as the March derivatives series began on a subdued note, mirroring a weak trend in the Asian market.
Profit-booking at prevailing levels weighed.
The 30-share Sensex fell 80.09 points, or 0.27%, to 28,812.88. The gauge had gained 737.41 points in the previous six sessions.
FMCG, auto, bank, power and metal stocks were trading in the negative zone, down by up to 0.67%.
The NSE Nifty offered a similar picture, which was down 10.25 points, or 0.11%, at 8,929.25.
A weak trend in other Asian markets cast its shadow as investors stepped back from a recent rally ahead of a speech to the Congress by Donald Trump this week.
The selling came in the face of start of March futures and options series in the derivatives segment.
Hong Kong's Hang Seng was down 0.53% while Japan's Nikkei shed 1.16% in early session today. Shanghai Composite fell 0.18%.
The US Dow Jones Industrial Average, however, ended 0.05% higher on Friday.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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