MUMBAI: Roiled by weak global cues, Indian stock indices opened with sharp 2% cuts at the opening and continued to trade lower on Monday.
The Nifty gapped down 1.72% at open while Sensex opened with a deeper, 2.5% cut as hardening bond yields in the US and geopolitical tensions spooked global markets.
The Nifty traded down 355 points at 17020 while Sensex was down 1176 points at 56,976, both of the day’s lows at 16916.55 and 56612.
Fear gauge India Vix, expressing the market uncertainty, was up 17% at 21.78.
Financials and metals led the Nifty losses. HDFC, Tata Steel, IndusInd Bank, ICICI Bank and SBI led the losses while IT bucked the trend due to weaker rupee.