Domestic equity benchmarks, extended their weakness in early trade after opening in the green. The S&P BSE Sensex opened at 36,290.48 against its last close of 36,241.
The Nifty50 barometer of the National Stock Exchange (NSE) started at 10,930.70, as compared to its previous close of 10,883. At 9:38 am, the 30-share Sensex traded at 36,112.16, down 128.84 points or 0.36 per cent and the 50-scrip Nifty was at 10,847.90, with a loss of 35.85 points or 0.33 per cent. Twenty one out of 50 Nifty stocks lost in trade.
The top five Nifty losers were Mahindra and Mahindra (down 2.14 per cent), HDFC (down 1.91 per cent), NTPC (down 1.52 per cent), Bharti Airtel (down 1.20 per cent), and HDFC Bank (down 1.10 per cent).
Banking and financial services stocks led the declines as Nifty Financial Services and Nifty Bank indices lost 0.68 per cent and 0.42 per cent respectively.
Asian shares fell in early trade as a relief rally sparked by a truce in the US-China trade war gave way to doubts on whether the two countries are able to resolve their differences before a 90-day deadline.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent as the Australian market gave up 0.5 per cent and Seoul’s Kospi fell 0.6 per cent, reported .
In contrast to the retreat in equity markets, oil prices continued to rise after surging 4 per cent the day before ahead of a key OPEC meeting that is expected to lead to supply cuts.
US crude was 0.5 per cent higher at $53.23 per barrel. Brent crude futures settled at $61.69 a barrel on Monday, reported .>