Indian shares opened lower on Monday as some investors worried about contagion risks in the global banking system despite a historic Swiss-backed acquisition of troubled Credit Suisse by UBS Group offering some relief.
Forty-five of the Nifty 50 constituents logged losses. All the Adani group stocks fell on aThe Nifty 50it will buy Credit Suisse for 3 billion francs , and assume up to $5.4 billion in losses, in a deal engineered by Swiss authorities.to reassure markets. But investor sentiment remained fragile.
At least two major banks in Europe are examining scenarios of contagion, two senior executives close to the discussion
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