Sensex, Nifty drop over 1%; Future Group firms tank – Times of India


BENGALURU: Domestic indices fell sharply on Monday as prospects of aggressive price hikes by the US Federal Reserve hit buyers’ urge for food for dangerous belongings, whereas shares of Future Group corporations tumbled after Reliance Industries referred to as off a deal to purchase its belongings.
The Nifty index was down 1.27% at 16,957.15, whereas the sensex fell 1.25% to 56,508.91. Each the indexes fell over 1% on Friday.
Broader Asian shares additionally misplaced floor on Monday, with MSCI’s broadest index of Asia-Pacific shares outdoors Japan falling 1.6% to a six-week low.
In home commerce, shares throughout the board slid, with 49 of the 50 shares on the Nifty 50 index buying and selling decrease.
Non-public-sector lender ICICI Financial institution was the one gainer, including 1.5% after it posted March-quarter outcomes over the weekend.
Future Group corporations slid – Future Retail was down 5%, Future Client crashed 19.4%, whereas Future Enterprises declined 9.5%.
Conglomerate Reliance on Saturday referred to as off its $3.4 billion take care of Future Group, saying it “can’t be applied” after Future’s secured collectors rejected it.


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