Sensex Slips Over 100 Points Amid Weak Global Cues, Nifty Barely Holds 15,700

Indian equity benchmarks on Monday traded lower in opening deals, moving in tandem with their global peers.

Sensex Slips Over 100 Points Amid Weak Global Cues, Nifty Barely Holds 15,700

Sensex and Nifty started on a lower note today.

New Delhi:

Indian equity benchmarks on Monday traded lower in opening deals, moving in tandem with their global peers. Asian markets were wavered today over looming recession fears.

The domestic indices fluctuated between gains and losses in volatile trade during early trade.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-down start for the domestic indices.

The 30-share BSE Sensex fell 102 points or 0.20 per cent to 52,805 in the early session, while the broader NSE Nifty moved 47 points or 0.30 per cent lower to trade at 15,705.

However, mid- and small-cap shares were trading slightly positive today as Nifty Midcap 100 edged 0.15 per cent higher and small-cap rose 0.48 per cent.

Four out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Metal, Nifty IT and Nifty Oil & Gas were underperforming the NSE platform by falling as much as 1.84 per cent, 0.82 per cent and 0.34 per cent, respectively.

On the stock-specific front, ONGC was the top Nifty loser as the stock cracked 4.24 per cent to Rs 125.50. Hindalco, JSW Steel, Tata Steel and TCS were also among the laggards.

Though, the overall market breadth was slightly positive as 1,792 shares were advancing while 775 were declining on BSE.

On the 30-share BSE index, Tata Steel, TCS, M&M, Wipro, Tech Mahindra, HDFC, Dr Reddy's, Infosys, Asian Paints, UltraTech Cement, Bharti Airtel and L&T were among the top losers.

In contrast, IndusInd Bank, ITC, Sun Pharma, ICICI Bank, PowerGrid and Maruti were trading in the green.

Also, shares of Life Insurance Corporation of India (LIC), the country's biggest insurer and largest domestic financial investor, rose 0.73 per cent to trade at Rs 681.70.

Sensex had declined 111 points or 0.21 per cent lower to close at 52,908 on Friday, while Nifty had moved 28 points or 0.18 per cent lower to settle at 15,752.

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