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Sensex Falls Over 100 Points, Nifty Struggles Around 10,350

HPCL, Bajaj Finance, Infosys, IOCL, BPCL, Adani Ports and IndusInd Bank were among the top losers on the Nifty 50 early in Monday's session.
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The Sensex had risen 918.80 points in the previous seven sessions
The Sensex had risen 918.80 points in the previous seven sessions
Indian equity markets started Monday's session on a weak note with the BSE benchmark index Sensex losing 115.91 points to 33,563.33 and the NSE Nifty shedding 41.65 points to 10,348.05. Shares in energy, IT and banking were down around 0.3-0.4 per cent in the morning, leading the losses in the indices. HPCL, Bajaj Finance, Infosys, IOCL, BPCL, Adani Ports and IndusInd Bank were among the top losers on the Nifty 50 early in Monday's session.

Global agency Standard & Poor's on Friday kept India's sovereign rating unchanged at 'BBB-minus' with 'stable' outlook. There were expectations that the rating agency could upgrade its rating. The 30-scrip Sensex had rallied 918.80 points in the previous seven sessions. 

Negative Asian cues too weighed on sentiment in the domestic equity markets. A weak trend in other Asian bourses as investors await the release of key Chinese data later in the week also dampened sentiment here, brokers said.

MSCI's broadest index of Asia-Pacific shares outside Japan rose early in the session on Friday's Wall Street gains but was last down 0.65 per cent. Shanghai shares were down 0.7 per cent, hitting a three-month low. Japan's Nikkei pared earlier gains and fell 0.3 per cent. South Korea's KOSPI fell 1.3 per cent.

Back in the domestic markets, some buying witnessed in consumer durables, capital goods and realty shares - up around 0.5-0.7 per cent - curbed the downside. Aurobindo Pharma, ONGC, NTPC, UPL, L&T and Tech Mahindra were among the top Nifty 50 gainers - rising between 0.4 per cent and 1.5 per cent.

At 9:55 am, the BSE Sensex was trading 89.90 points, or 0.26 per cent, lower at 33,589.34 and the NSE Nifty was down 32.65 points, or 0.31 per cent, at 10,357.05.

(With agency inputs)

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