Indian equities plunge in early trade, Titan among top losers
Mumbai, May 2, 2022
Indian equity benchmarks declined in the opening session on Monday taking cues from volatility in the global markets.
At 9.19 a.m., the Sensex was at 56,680 points, down 0.7 per cent, whereas the Nifty was at 16,990 points, down 0.7 per cent.
Among the stocks, Titan was the top loser, declining 2.7 per cent.
Mohit Nigam, Head - PMS, Hem Securities, said it is the worst monthly slide in the US markets after April 2020.
"Asian markets are trading negative in the early Monday trade. Financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand are closed on Monday for public holidays," Nigam said.
Some stock specific actions can be witnessed in stocks such as Wipro, IndusInd Bank, SBI Cards, Tata Chemicals, Tanla Platforms as all these companies posted their earnings last week.
Earnings for the day include Adani Wilmar, Jindal Stainless, INOX Leisure, IDBI Bank, HDFC, Castrol India, Britannia Industries, Nigam said.