Sensex Skids 310 Points, Nifty Trades Below 17,100 Tracking Weak Global Cues

HDFC twins, Kotak Bank, TCS, Dr Reddy's, UPL, M&M, Nestle, Bajaj Finance, and HCL Tech were the biggest losers, down between 0.4 per cent and 1 per cent, while PVR and Inox surged 6% and 13% respectively

The BSE Midcap and Smallcap indices were up to 0.15 per cent higher. Image: Getty

New Delhi: The key equity benchmarks, Sensex and Nifty, on Monday started trade lower amid weak global cues amid the ongoing Russia-Ukraine conflict which have kept investors on edge.

At 10 am, the 30-share Sensex platform was down 310 points to 57,052, while the NSE Nifty was at 17,071, down 81 points.

The top performers on the Sensex were Ultratech Cement, Bharti Airtel, Sun Pharma, Titan, Maruti, Wipro, HUL, and PowerGrid, which gained up to 1.1 per cent. Cipla, Tata Consumer, Bajaj Auto, Indian Oil, and Grasim were the top Nifty winners.

On the flip side, HDFC twins, Kotak Bank, TCS, Dr Reddy's, UPL, M&M, Nestle, Bajaj Finance, and HCL Tech were the biggest losers, down between 0.4 per cent and 1 per cent.

Among stocks, PVR and Inox Leisure surged 6 per cent and 13 per cent, respectively. The two firms have inked a deal to merge and will become India’s largest film exhibition company.

However, the broader markets were outperforming the frontline indices. The BSE Midcap and Smallcap indices were up to 0.15 per cent higher.     

Nine out of the 15 sector gauges, compiled by the National Stock Exchange, were trading in the red. Nifty Financial Services and Nifty Bank were underperforming the index by falling as much as 1.12 per cent and 0.94 per cent, respectively.

Realty and Consumer Durable indices were also in red. While, Nifty Oil & Gas, Pharma, Metals, Media, and Auto were all in the positive zone, up between 0.3 per cent and 2 per cent.

Previously on Friday, Sensex had slipped 233 points (0.41 per cent) to close at 57,362, while Nifty had moved 70 points (0.40 per cent) lower to settle at 17,153.

Meanwhile, Asian shares declined as Covid lockdown in Shanghai looked set to hit global activity. The spread of curbs in China, the world's biggest oil importer, saw Brent skid $3.26 to $117.39, while US crude fell $3.37 to $110.53.