(RTTNews) - Indian shares opened on a sluggish note on Tuesday as Iran rejected proposals for a temporary ceasefire and U.S. President Donald Trump expanded his threat against Iran to include all power plants and bridges before his Tuesday-night deadline.
The benchmark BSE Sensex was down 480 points, or 0.7 percent, at 73,627 in early trade, while the broader NSE Nifty index dropped 139 points, or 0.6 percent, to 22,829.
Selling was seen across the board, with SBI, ICICI Bank, Larsen & Toubro, Hindustan Unilever, Axis Bank, Asian Paints, UltraTech Cement, Eternal, Titan Company, Mahindra & Mahindra and IndiGo falling 1-2 percent.
Jubilant Foodworks plummeted 8 percent after reporting muted like—for-like growth in Q4.
FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, tumbled 3 percent after announcing that it is in discussions to acquire a stake in Deepika Padukone's skincare brand 82°E.
PC Jeweler added nearly 2 percent after a strong Q4 business update, with quarterly revenue increasing around 32 percent year-on-year.
Titagarh Rail Systems rose about 2 percent. The company said its arm, Titagarh Naval Systems, has received approval for a brownfield expansion in West Bengal.
Godrej Consumer Products rallied 2.5 percent after it forecast double-digit consolidated revenue growth in the fourth quarter.
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