The benchmark index of Bombay Stock Exchange(BSE), Sensex has tanked by 75 points to 34,941 points due to the weak cues from the global markets.
Rupee depreciation and heavy selling pressure in blue chip stocks were the other factors which pulled down the market. The Indian rupee opened lower by 36 paise. The benchmark index of National Stock Exchange (NSE), Nifty has slipped by 20 points which drove Nifty below 10,550 points.
Heavy selling pressure witnessed in NTPC, IndusInd Bank, Adani Ports, ICICI Bank shares among others. ONGC and Axis Bank shares gained up to 3% in opening trade.
Meanwhile in the global markets, Asian stocks started the week gingerly amid worries about tense Sino-U.S. trade relations, said a Reuters report. SBI, Power Grid, GAIL and Cipla are the four Nifty companies that will come out with their quarterly corporate earnings today. UNI