A rally in stock markets last week was driven by global sentiment as there were no domestic cues to support the market other than the expected announcement of measures for the real estate sector, said Udayan Mukherjee. Markets will remain range-bound amid surging oil prices and ahead of the US Federal Reserve's monetary policy decision this week, he added.

"So given the global mood is not terribly sour yet, we might just continue to drift in this 10,700-11,200 kind of zone. But if the hope over the weekend was that the real estate package etc will push us beyond that upper end of that trading range of 11,200, that may have to wait and we will get pushed back within that 400-500 points kind of a range,” he said. READ MORE

The Nifty Energy index was the biggest loser among sectoral indices led by losses in oil refining companies due to a sharp jump in global crude oil prices after a drone strike on Saudi Arabian Oil Co reduced around 5 percent of the global oil supplies. A rise in global crude oil prices is detrimental for oil refiners as it increases their import bill. The Nifty Energy index was down 1.5 percent. Shares of Bharat Petroleum Corp, Indian Oil Corp and Hindustan Petroleum Corp were down 2-7 percent.

India's Wholesale Price Index-based (WPI) inflation was 1.08 percent in August, unchanged from July, data published by the Ministry of Commerce and Industry showed on Monday. August WPI was expected to slide to 0.95 percent, as per a CNBC-TV18 poll.

-The NSE Nifty50 holds the 11,000 mark, trading 0.62 percent lower at 12.30 pm. The BSE Sensex is down by over 200 points, or 0.60 percent, below 37,200.  

-Earlier, domestic equity benchmark BSE Sensex plunged nearly 300 points in early session on Monday, dragged by oil and gas stocks, stoked by a massive surge in global crude prices.

-In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.

-Shares of oil and gas companies HPCL, BPCL, IOC, Castrol India and Reliance Industries plunged up to 7 percent.

-On the other hand, ONGC, TCS, HUL, TechM, PowerGrid, Sun Pahrma, Infosys, ITC, HCL Tech and NTPC rose up to 2.45 percent.

-The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.

-Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply.

Another one bites the dust in the housing finance sector, and this time it’s one of the largest foreign-owned non-banking financial company (NBFC) by networth in India - Altico Capital. The company handles more than Rs 4,000 crore of outstanding loans and has recently defaulted on its interest payments worth Rs 20 crore to Mashreq Bank of Dubai on Rs 340 crore of external commercial borrowing (ECB). READ MORE

Shares of Equitas Holdings (EHL) fell 17 percent on Monday after Securities and Exchange Board of India (Sebi) returned the draft scheme for listing its wholly-owned subsidiary Equitas Small Finance Bank (ESFB). The company is advised to re-submit the same after ensuring compliance with the provisions mentioned in the Sebi circular. The stock plunged as much as 16.9 percent to Rs 97.30 per share on the BSE. At 9:58 am, the stock was trading 15.88 percent lower at Rs 98.50 as compared to a 0.5 percent or 199 points fall in the BSE Sensex at 37,185. READ MORE

A mini-recession is returning in 2020 or 2021, said Arun Mantry, senior manager, Karvy Stock Broking, in an exclusive interview with CNBCTV18.com, adding that it will begin from the US market. Domestically, Mantry said that the market sentiment is unlikely to improve despite the government announcing measures to revive the economy, as the steps taken are mostly medium-term or long-term. He added that for immediate improvement in the market sentiment, the government needs boosters like GST rate cut in the auto sector, increase in government spending, announcements on infrastructure and consumption. READ MORE

The dollar fell while safe havens and currencies of oil-producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. The Canadian dollar rose 0.4 percent to 1.3233 per dollar. The Norwegian krone rose 0.5 percent to 8.9363 per dollar. Both currencies often move together with the oil price because the countries are major oil exporters. In India, a major importer of crude, the rupee fell almost 0.7 percent. The safe-haven Japanese yen and Swiss franc both firmed. The yen rose 0.3 percent to 107.79 per dollar and the franc rose 0.4 percent to $0.9883. Gold jumped by 1 percent. Against a basket of currencies the dollar edged lower to 98.162. The Chinese yuan weakened 0.25 percent to 7.0631 per dollar.

-Domestic equity benchmark BSE Sensex plunged nearly 300 points in early session on Monday, dragged by oil and gas stocks, stoked by a massive surge in global crude prices.

-In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.

-Shares of oil and gas companies HPCL, BPCL, IOC, Castrol India and Reliance Industries plunged up to 7 percent.

-On the other hand, ONGC, TCS, HUL, TechM, PowerGrid, Sun Pahrma, Infosys, ITC, HCL Tech and NTPC rose up to 2.45 percent.

-The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.

-Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply.

Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply. Among stocks, oil marketing companies plunged with HPCL down 5 percent, while BPCL and IOC fell 4.5 percent and 3 percent, respectively in morning deals. Reliance Industries also declined in morning trade, down over 2 percent. READ MORE