Indian shares flat on cautious Asian markets; SpiceJet dives

posted on 16th August 2021 by Eddie Saunders
Indian shares flat on cautious Asian markets; SpiceJet dives

BENGALURU – Indian shares were little changed on Monday, as cautious investors weighed a possible slowdown in the world’s second-largest economy, while budget carrier SpiceJet dropped after reporting a wider quarterly loss.

By 0403 GMT, the blue-chip NSE Nifty 50 index was down 0.06% at 16,519.70 and the benchmark S&P BSE Sensex fell 0.05% to 55,411.63. Both the indexes had closed at record highs on Friday and posted a weekly gain of more than 1%.

In broader Asian markets, equities made a cautious start to the week on Monday after a raft of Chinese data showed a surprisingly sharp slowdown.

SpiceJet fell as much as 16.7% after the company reported a quarterly net loss of 7.29 billion rupees ($98.13 million), compared with a loss of 5.93 billion rupees a year ago.

Investors are also eyeing stock market debuts by four companies — Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles.

($1 = 74.2900 Indian rupees)