Sensex Down 300 Points On Global Cues; Nifty At 11,350

( - Indian shares opened notably lower on Monday, mirroring weak global cues after U.S. President Donald Trump doubled steel and aluminum tariffs on Turkey, raising concerns the country may plunge into a financial crisis.

The benchmark BSE Sensex was down almost 300 points or 0.79 percent at 37,570 while the broader Nifty index was down 79 points or 0.69 percent at 11,350.

PVR gave up 1 percent after buying a 71.7 percent stake in SPI Cinemas Pvt. Ltd for Rs. 633 crore.

Jet Airways, which is under watch over debt repayments, declined 2.4 percent.

Reliance Communications tumbled 2.8 percent after it agreed to sell more spectrum to Reliance Jio Infocomm.

Tata Motors lost 2 percent after its global sales fell 5 percent in July.

Tata Steel dropped 1.2 percent and Tata Chemicals shed half a percent ahead of their quarterly results due today.

Godfrey Philips advanced 1.2 percent on posting turnaround results for the first quarter.

India Cements plunged almost 7 percent on sluggish Q1 earnings results.

Cipla rallied 1.9 percent after it received final approval from the U.S. health regulator for a HIV drug.

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