Market Today: Domestic markets started Monday’s trade on a tepid note amid weak global cues and subdued foreign flows. Key indices Nifty50 shed over 100 points to trade below 18,400 levels, whereas the S&P BSE Sensex declined over 400 points to trade at 61,743 levels.
Broader markets, too, inched lower in trade as Nifty MidCap 100 and Nifty SmallCap 100 shed up to 0.1 per cent. Volatility gauge, India VIX, meanwhile, climbed over 3 per cent.
Sectorally, only Nifty Media and Nifty PSU Bank indices started trade with marginal gains. However, Nifty IT index was the worst hit as it sunk over 1 per cent.
Among individual stocks, shares of Jaiprakash Associates soared over 9 per cent as the board will mull over sale of their Nilgrie cement unit in Madhya Pradesh.
Global Cues
Globally, the US equity futures were muted in early trades as investors eye the US Federal Reserve’s interest rate decision and the inflation report card later in the week.
Markets in Asia-Pacific, too, inched lower in trade with Nikkei 225, Topix, Kospi, the S&P 200 indices down up to 0.7 per cent.
In the commodities market, prices of Brent Crude rose 0.1 per cent to $76 per barrel as a key Canada-United States crude pipeline remained closed. WTI Crude, meanwhile, climbed 0.4 per cent to $71 per barrel.
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