May 18, 2020 / 4:12 AM / 15 days ago

Indian shares fall as economic package fails to impress; Reliance rises

BENGALURU, May 18 (Reuters) - Indian shares slipped on Monday as investors were unimpressed by the government’s economic relief measures and coronavirus cases continued to rise steadily, while a boost in Reliance Industries and Cipla limited losses.

The NSE Nifty 50 index fell 0.80% to 9,063.85 by 0400 GMT, while the S&P BSE Sensex slid 0.79% to 30,845.65. The Nifty banking index fell 2.5%.

India on Sunday extended a nationwide lockdown to May 31, while easing some restrictions, but a ban on air travel and several public gatherings still remained. As of Monday, India’s tally of coronavirus infections surged past 96,000, while deaths surpassed 3,000.

Shares in drugmaker Cipla Ltd jumped 2% after March-quarter results on Friday and its filing of a new drug application for a generic version of GSK’s blockbuster lung drug Advair.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd gained 1% after unveiling yet another sizeable investment in its digital arm. (Reporting by Sachin Ravikumar; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below