WASHINGTON (dpa-AFX) - Indian shares opened lower on Tuesday to extend losses from the previous session, as an escalation of European Covid-19 restrictions in response to fears around the rampant spread of a new variant spurred fresh concerns about global growth.
The benchmark S&P BSE Sensex dropped 305.16 points, or 0.7 percent, to 45,248 in early trade, after having fallen nearly 3 percent in the previous session. The broader NSE Nifty index was down 72 points, or half a percent, at 13,256.
Future Retail shares plunged 5 percent. The Delhi High Court rejected Future Retail's plea for an ad interim injunction against Amazon, but said that prima facie its resolution approving the Reliance deal was valid.
Future Enterprises lost 4.7 percent after defaulting on payment of interest of Rs 13.91 crore due on non-convertible debentures.
Dewan Housing Finance Corp gave up nearly 5 percent as the race to acquire the bankrupt company intensified.
ONGC declined 2.4 percent. The company said it has begun crude oil production from the Asokenagar-1 well, Bengal Basin in 24 Paragana district.
Tata Motors tumbled 4.2 percent on news it will hike the prices of its commercial vehicles from January.
IT stocks such as TCS, HCL and Tech Mahindra were seeing modest gains amid a weakening rupee on risk aversion due to the new strain of Covid-19.
Edelweiss Financial Services plummeted 5 percent on fund raising reports.
NIIT rallied 2.6 percent on share buyback news.
Thermax fell 2.5 percent after increasing its stake in First Energy Pvt. to 100 percent.
Lupin was little changed as it received approval from the U.S. FDA to market a generic drug used in the treatment of seizures associated with Lennox-Gastaut syndrome.
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