Sensex, Nifty Down Over 1% In Early Trade

(RTTNews) - Indian shares were sharply lower on Monday as foreign portfolio investors continued to offload Indian equities amid valuation concerns, lingering geopolitical tensions and uncertainty over the U.S. presidential election outcome.

The benchmark S&P/BSE Sensex was down 850 points, or 1.1 percent, at 78,875 in early trade while the broader NSE Nifty index was down 265 points, or 1.1 percent, at 24,038.

Among the prominent decliners, Reliance Industries, BPCL, Hero MotoCorp and Bajaj Auto were down 3-4 percent.

DLF fell 2.2 percent after it unveiled plans to invest Rs. 8,000 crores to build a luxury project in Gurugram.

Sun Pharma tumbled 3.1 percent after the U.S. District Court of New Jersey issued a preliminary injunction blocking the company from introducing the drug 'LEQSELVI'.

Zen Technologies declined 1.7 percent despite reporting impressive Q2 results.

TVS Motor Company lost 2.6 percent despite reporting a 13 percent rise in monthly vehicle sales.

On the positive side, Mahindra & Mahindra rallied 2.4 percent after recording its highest ever SUV sales in October.

NMDC rose 1.8 percent after reporting iron ore production and sales figures for October.

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