Stock markets open flat: Sensex sheds over 200 points, Nifty below 9,200-mark; ITC, OMCs among major losers – Firstpost
FirstpostShares in consumer goods conglomerate ITC and lender Axis Bank Ltd fell 6 percent and 3.8 percent, respectively, after a news report that the government is planning to sell its stakes in the two companies. The Sensex dropped over 200 points in early trade on Wednesday tracking losses in index-heavyweights ITC, Axis Bank and Kotak Bank amid rising concerns over the country’s economic outlook as COVID-19 cases spike. In the previous session, the BSE barometer settled 261.84 points or 0.83 per cent lower at 31,453.51, and the NSE Nifty fell 87.90 points or 0.95 percent to close at 9,205.60. US stock futures, Chinese shares slip amid Sino-US tensions Shares struggled and the yen gained on Wednesday, with markets in China faltering on their return from a long holiday as investors fretted over Sino-U.S. tensions, while oil ended an extended winning streak on oversupply risks amid weak demand.