Titan, Asian Paints, Sun Pharma, Bajaj Finance, Infosys, Maruti and Bajaj Finserv were the early laggards
Titan, Asian Paints, Sun Pharma, Bajaj Finance, Infosys, Maruti and Bajaj Finserv were the early laggards
Benchmark stock indexes remained weak on Monday, with the Sensex plummeting over 648 points in early trade, trailing selling in index majors Infosys, Reliance Industries and HDFC Bank along with muted global trends.
The 30-part BSE benchmark was trading 648.25 points lower at 56,412.62. The NSE Nifty fell 185.3 points to 16,917.25.
From the Sensex package, the early laggards were Titan, Asian Paints, Sun Pharma, Bajaj Finance, Infosys, Maruti and Bajaj Finserv.
In contrast, IndusInd Bank, NTPC and Axis Bank were the winners.
Asian markets in Seoul and Tokyo traded lower on deals during the session.
Stocks in the US closed significantly lower on Friday.
“Asian markets are trading negative in early Monday trading. Financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand are closed for public holidays on Monday,” said Mohit Nigam, Head – PMS, Hem Securities.
Meanwhile, international oil benchmark Brent fell 0.87% to $106.21 a barrel.
The BSE benchmark fell 460.19 points, or 0.80%, to 57,060.87 on Friday. The Nifty fell 142.50 points, or 0.83%, to 17,102.55.
Foreign institutional investors sold £3,648.30 billion worth of shares again on Friday after becoming net buyers, according to stock market data on Thursday.
“The excessive volatility in the market is likely to continue for some time. The sharp sell-off in US markets on Friday is an indication of market nervousness and anxiety caused by an increasingly dovish Fed, a rising dollar index and the protracted war in Ukraine,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
