Sensex Drops 150 Points; Nifty Dips Below 17,350

Indian shares opened Monday's session on a tepid note, mirroring weak global cues as traders evaluated the risk of a slower economic recovery from the pandemic amid elevated inflation.

The benchmark 30-share BSE Sensex dropped 150 points, or 0.3 percent, to 58,151 in early trade, while the broader NSE Nifty index was down 43 points, or 0.3 percent, at 17,326.

Reliance Industries fell 1.7 percent after delaying the launch of its JioPhone Next's release.

ICICI Bank and SBILife both were down around 1 percent.

Wipro shares edged down slightly. The IT firm said it would allow employees in the leadership roles to return to the office from today.

Godrej Consumer Products rose half a percent. The FMCG major is looking at clocking a double-digit growth in the current fiscal with expansion across segments.

Bharti Airtel gained 0.7 percent as S&P Global upgraded the telecom major's outlook to stable from negative.

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