NIFTY 50 opened 180 points lower, Sensex trades below 74,000

The NIFTY 50 opened 180 points lower at 22,330 levels and opened below the 74,000 mark amid a global rout in the stock markets. The correction in NIFTY was largely led by a fall in index heavyweights like HDFC Bank (-0.9%), Reliance (-0.9%), ICICI Bank (-0.7%), and SBI(-1.6%).

Indian markets open lower, tracking global cues after Iran attacks Israel in its retaliatory response to Israel's attack in Syria. The global market closed weak on Friday, with major US indices falling over 1%. In Asia, Japanese and Korean markets are trading lower by more than 1.5%, while the Chinese markets rejoice in their government's decision for economic support announcement.

On the sectoral front, NIFTY PSU Bank (-2.4%) and Reality (-2.3%) are the top sectoral losers on Monday morning. At the same time, NIFTY IT (+0.2%) remains the sole gainer among all.

The broader indices witnessed a larger fall on Monday morning after the NIFTY midcap 100 and small-cap 100 opened over 2% lower. The NIFTY midcap 100 is currently trading 1.9% lower at 49,118, and the small-cap 100 is trading 2.4% lower at 16,097.

On the commodities front, Gold prices in International markets are trading firm at $2,358 levels, while Brent crude oil prices are trading lower by 2.4% at $90.2/barrel after touching a high of $92/barrel mark.

Top Trending Stocks

TCS's share price is trading 0.5% higher after its steady quarterly earnings performance for FY24. The company also declared a dividend of ₹28 per share.

Aster DM Healthcare opened 14% higher after the company announced a special dividend of ₹118 per share as the company sold its GCC business.

BPCL, HPCL and IOC are trading in the red after Brent crude oil prices touched the $92/barrel mark on Friday after an escalation between the war in Iran and Israel. BPCL's share price is trading lower by 3.5%, and HPCL and IOC shares are trading 3% lower on Monday.