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Sensex Down Over 200 Points; Nifty At 11965

Indian shares fell in early trade on Tuesday, tracking weak cues from other Asian markets after 98 more people died due to the deadly coronavirus and iPhone maker Apple warned it was unlikely to meet a sales target set just three weeks ago.

The benchmark S&P BSE Sensex dropped 233 points, or 0.57 percent, to 40,822, while the broader NSE Nifty index was down 80 points, or 0.67 percent, at 11,965.

Vodafone Idea plunged 10 percent on concerns that it may be heading for liquidation.

JSW Steel shed 0.7 percent after the National Company Law Appellate Tribunal approved the Rs. 19,700-crore resolution plan of the company to take over the bankrupt Bhushan Power and Steel.

Reliance Industries fell about 1 percent after the company announced consolidation of its all media and distribution businesses under one umbrella brand.

TV18 Broadcast soared 15 percent, Hathway Cable & Datacom jumped 20 percent, Den Networks climbed 10 percent and Network18 Media & Investments surged 5 percent.

JSW Energy rallied 7 percent after it entered an agreement to buy GMR Energy's 1,050 mw-Kamalanga power project located in Odisha.

Dewan Housing Finance Corp rose about 5 percent on reports that at least 15 suitors have shown interest in acquiring the troubled mortgage financier.

Godrej Properties lost 1 percent after it entered into a pact to acquire a 26-acre land parcel in central Delhi's Ashok Vihar locality for Rs 1,359 crore.

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