Opening Bell: Sensex falls over 700 points, Nifty opens below 14,900 on weak global cues; banks, metals lead losses

Updated : February 26, 2021 09:32 AM IST

Heavy losses were witnessed across all sectors with banks, metals, IT and auto indices facing most cuts.

All the components on the Nifty50 index were trading in the red with Tata Motors, IndusInd Bank, ONGC, SBI and Axis Bank being the top losers.

The Indian equity market opened sharply lower on Monday following steep losses in global peers as a surge in bond yields spooked investors.

At 9:15 am, the Sensex opened 1.53 percent, or 782.60 points lower at 50,256.71, while the Nifty50 index opened at 14,888.60, down 208.75 points, or 1.38 percent.

Broader markets also plunged with Nifty Smallcap100 and Nifty Midcap100 indices down over 1 percent each.

Heavy losses were witnessed across all sectors with banks, metals, IT and auto indices facing most cuts.

All the components on the Nifty50 index were trading in the red with Tata Motors, IndusInd Bank, ONGC, SBI and Axis Bank being the top losers.

Meanwhile, Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.

Yields on the 10-year Treasury note eased back to 1.494 percent from a one-year high of 1.614 percent, but were still up a startling 40 basis points for the month in the biggest move since 2016.

Catch all the latest updates from the stock market here.

Published : February 26, 2021 09:32 AM IST