The Indian equity benchmark indices opened sharply lower on Monday dragged by broad-based selling amid weak global cues.
At 9:15 am, the Sensex opened 0.87 percent, or 456.90 points lower at 51,887.55, while the Nifty50 index opened at 15,525.85, down 157.50 points, or 1.00 percent.
Broader markets, Nifty Smallcap100 and Nifty Midcap100, traded over a percent lower each.
All the sectoral indices traded in the red with the Nifty Bank, Nifty Metal, Nifty IT, Nifty Auto and Nifty Financial Services falling the most in the early morning session.
JSW Steel, Tata Motors, Hindalco Industries, SBI and IndusInd Bank were the top Nifty50 losers, while Adani Ports & SEZ, NTPC, HDFC Life Insurance and Hindustan Unilever were the top index gainers.
The share price of PNB Housing Finance plunged 5 percent after Sebi directed the company to halt its proposed Rs 4,000 crore deal with Carlyle group.
Globally, Asian stocks declined in Monday morning trade, as Japan’s markets plummeted in the morning. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.97 percent lower.