(RTTNews) – Indian shares opened lower on Thursday, extending losses from the previous session as the prospect of a quick end to the war in West Asia thinned and trade tensions resurfaced.
Brent crude oil prices surged over 9 percent past $100 per barrel in Asian trade today, raising concerns about inflation and the broader impact on global economic stability.
Among the prominent decliners, IndiGo, Titan Company, Trent, Maruti Suzuki India, Eternal and Mahindra & Mahindra tumbled 2-3 percent.
The benchmark BSE Sensex was down 548 points, or 0.7 percent, at 76,315 in early trade, while the broader NSE Nifty index was down 194 points, or 0.8 percent, at 23,673.
IRCTC fell 2.4 percent to extend losses from the previous session after reports the company may halt cooked meal services on trains due to LPG supply shortages.
Ashok Leyland declined 2.3 percent after breaking ground for a greenfield battery pack manufacturing facility near Chennai.
Borosil shares plunged 5 percent. The company said LPG supply restrictions have affected production at its Jaipur-based furnaces.
Bharat Forge tumbled 3.3 percent. The company’s board has approved an investment of up to €15 million in its wholly owned German subsidiary through an equity infusion.
Omnitech Engineering soared 5.6 percent on securing an order worth Rs. 920 crore from a Germany-based firm.
Wipro was little changed after securing a multi-year contract from a U.S.-based insurance and financial services provider.
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