 "Nifty opens below 6,200; Asian markets drag")
Markets have started the trading session on a lower note tracking weak global cues. By 9:30, the Sensex was lower by 330 points at 20,803 mark and the Nifty declined by 100 points at 6,167 mark.
Asian shares took a beating and the yen raced to a seven-week high against the dollar on Monday, as emerging markets remained under pressure with the US Federal Reserve poised to continue tapering its stimulus and tighter credit conditions in China raising fears of a slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.6% to nearly a five-month low, on track for its worst one-day performance since August after losing more than 1.0% on Friday. Japan's Nikkei share average gave up the 15,000-level and dropped 2.7%.
The Dow Jones Industrial Average dropped 318.24 points, or 2%, to 15,879.11. The Nasdaq Composite index lost 90.70 points, or 2.2%, to 4,128.17. The S&P 500 index closed below the psychologically significant level of 1,800 for the first time since Dec. 17, dropping 38.17 points, or 2.1%, to 1,790.29.
Back home, RBI's monetary policy review, quarterly earnings and outcome of the Federal Open Market Committee (FOMC) meet will dictate the stock markets trend this week.
Foreign institutional investors' investment trend, global cues and rupee movement against the US dollar will also be key drivers for the domestic markets.
Besides, markets are expected to remain volatile in view of derivatives expiry on Thursday.
Foreign institutional investors sold shares worth a net Rs 230.96 crore on Friday, as per provisional data from the stock exchanges.
Hindustan Unilever, Adani Ports, Adani Power, Allahabad Bank, Idea Cellular, Just Dial and Shree Cement will unveil Q3 results today.
On the sectoral front, BSE Bankex has plummeted by over 2% followed by counters like Capital Goods, Realty, Metal, Consumer Durables and Auto, all falling down by nearly 2% each. Infact, all the major BSE sectoral indices are trading in red zone.
Rate sensitive sectors have extended Friday’s losses after Raghuram Rajan was quoted as saying that inflation was a "destructive disease" that was forcing the bank to keep interest rates high.
The main losers on the Sensex at this hour include Tata Motors, Sesa Sterlite, ICICI Bank, Bharti Airtel, M&M, Tata Steel, Maruti Suzuki and L&T.
Tata Motors Managing Director Karl Slym died on Sunday in Bangkok, where he had gone to attend a board meeting of the company’s Thai arm. Slym, 51, who had joined the company in October 2012, is survived by his wife.
The broader markets are trading weak in line with the benchmark indices- BSE Midcap and Smallcap indices have fallen by over 1% each.
The market breadth in BSE remains dismal with 855 shares advancing and 215 shares declining.
Asian shares took a beating and the yen raced to a seven-week high against the dollar on Monday, as emerging markets remained under pressure with the US Federal Reserve poised to continue tapering its stimulus and tighter credit conditions in China raising fears of a slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.6% to nearly a five-month low, on track for its worst one-day performance since August after losing more than 1.0% on Friday. Japan's Nikkei share average gave up the 15,000-level and dropped 2.7%.
More From This Section
US stocks tumbled on Friday, to their biggest loss in more than seven months, extending a global sell-off that investors fear signals turmoil to come as financial markets adjust to a pullback in central-bank stimulus.
The Dow Jones Industrial Average dropped 318.24 points, or 2%, to 15,879.11. The Nasdaq Composite index lost 90.70 points, or 2.2%, to 4,128.17. The S&P 500 index closed below the psychologically significant level of 1,800 for the first time since Dec. 17, dropping 38.17 points, or 2.1%, to 1,790.29.
Back home, RBI's monetary policy review, quarterly earnings and outcome of the Federal Open Market Committee (FOMC) meet will dictate the stock markets trend this week.
Foreign institutional investors' investment trend, global cues and rupee movement against the US dollar will also be key drivers for the domestic markets.
Besides, markets are expected to remain volatile in view of derivatives expiry on Thursday.
Foreign institutional investors sold shares worth a net Rs 230.96 crore on Friday, as per provisional data from the stock exchanges.
Hindustan Unilever, Adani Ports, Adani Power, Allahabad Bank, Idea Cellular, Just Dial and Shree Cement will unveil Q3 results today.
On the sectoral front, BSE Bankex has plummeted by over 2% followed by counters like Capital Goods, Realty, Metal, Consumer Durables and Auto, all falling down by nearly 2% each. Infact, all the major BSE sectoral indices are trading in red zone.
Rate sensitive sectors have extended Friday’s losses after Raghuram Rajan was quoted as saying that inflation was a "destructive disease" that was forcing the bank to keep interest rates high.
The main losers on the Sensex at this hour include Tata Motors, Sesa Sterlite, ICICI Bank, Bharti Airtel, M&M, Tata Steel, Maruti Suzuki and L&T.
Tata Motors Managing Director Karl Slym died on Sunday in Bangkok, where he had gone to attend a board meeting of the company’s Thai arm. Slym, 51, who had joined the company in October 2012, is survived by his wife.
The broader markets are trading weak in line with the benchmark indices- BSE Midcap and Smallcap indices have fallen by over 1% each.
The market breadth in BSE remains dismal with 855 shares advancing and 215 shares declining.