Business news live: Markets update | Sensex, Nifty open lower
Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate on valuation concerns. The Asian Development Bank (ADB) has approved a $1.5 billion loan for the Indian government to purchase COVID-19 vaccines.
9:30 A.M.
Markets update | Sensex, Nifty open lower
Indian equity benchmark indices, Sensex and Nifty opened on a negative note amid weak Asian markets. At 9:16 IST, the Sensex was down 722.43 points or 1.23% at 58,072.66 and the Nifty was down 233.90 points or 1.28% at 17,312.40.
Asian stocks fell the most in two months as detection of a new and possibly vaccine-resistant coronavirus variant sent investors rushing towards safe havens.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3%, and Japan’s Nikkei plunged 2.5%. U.S. crude oil futures fell nearly 2% as well amid fresh demand fears.
Scientists said the…
