India, Feb. 23 -- Indian shares were moving lower on Monday as U.S. President Donald Trump reiterated reciprocal tariffs plans for India.
The benchmark S&P/BSE Sensex dropped 550 points, or 0.7 percent, to 74,760 in early trade while the broader NSE Nifty index was down 161 points, or 0.7 percent, at 22,634.
IT stocks were among the worst hit, with Infosys, TCS, Wipro and HCL Technologies all falling around 2 percent.
Britannia and BPCL both fell around 1 percent after they have been removed from Nifty 50.
Jio Financial Services declined 1.4 percent and Zomato fell nearly 2 percent. The two stocks have been added to the index with effect from March 28.
Jagsonpal Pharmaceuticals lost 2.4 percent after receiving a warning from the U.S. F...