Indian shares fell on Monday, in line with tumbling Asian markets, after US President Donald Trump threatened to raise tariffs on $200 billion worth of Chinese goods,
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 2.0 per cent as markets across the region fell deep into the red.
The broader NSE index was down 0.83 per cent at 11,615.25 as of 0631 GMT, while the benchmark BSE index fell 0.81 per cent to 38,649.50.
Both the indexes had declined more than 1.0 per cent earlier in the session, reports Reuters.
Automaker Tata Motors Ltd fell as much as 5.1 per cent and was the top loser by percentage on both the indexes.
Private-sector lender Yes Bank Ltd was second in line, falling up to 5.0 per cent, after ratings agency ICRA downgraded bank’s long-term ratings.
Shares of Tata Steel fell as much as 3.7 per cent in their worst day in nearly three months on reports that Brussels is likely to block its merger with ThyssenKrupp AG.
Pharmaceutical firm Cadila Healthcare’s shares fell to a four-year low after the US drug regulator gave out 14 observations after an inspection at its facility in Gujarat.
Jet Airways Ltd shares dropped as much as 7.7 per cent after Reuters reported that the Indian government sees little hope of a bidder emerging for the debt-laden airline and it may have to face bankruptcy proceedings.
