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Sensex, Nifty Fall About 1% In Early Trade

Indian shares opened lower on Monday despite positive cues from global markets.

Underlying sentiment turned cautious as a slew of stimulus measures announced over the weekend failed to cheer markets and the government extended a nationwide lockdown till May 31.

The benchmark S&P BSE Sensex dropped 341 points, or 1.10 percent, to 30,756 in early trade, while the broader NSE Nifty index was down 83 points, or 0.91 percent, at 9,053.

Reliance Industries rose about 1 percent after it announced the sale of 1.34 percent stake in Jio Platforms to global equity firm General Atlantic for Rs 6,598.38 crore.

KNR Constructions rallied 3.6 percent and Sterling and Wilson jumped 5 percent on winning new work contracts.

ITC gained 0.8 percent on news it has resumed operations at its factories and plant locations manufacturing non-essential items.

Future Consumer advanced 1.9 percent and Trident added 2 percent on fund raising reports.

Bharti Airtel and Torrent Power were moving lower ahead of their earnings results due today.

Tata Chemicals fell 2.4 percent on reporting a 48 percent fall in quarterly net profit.

L&T Finance Holdings slumped 4.5 percent as it reported a 34 percent fall in quarterly profit.

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