Markets fall at opening; IT stocks drag

Top losers in the Sensex pack included HCL Tech, Sun Pharma, Hero MotoCorp, Asian Paints, Tata Steel, TechM, TCS and IndusInd Bank, shedding up to 1.44 percent.

Markets fall at opening; IT stocks drag

New Delhi: Markets fell at opening on Monday tracking losses in IT stocks amid weak cues from other Asian markets.

The 30-share index was trading 38.24 points or 0.098 percent at 39,084.72 in early trade while the broader NSE Nifty was quoting 10.15 points, or 0.087 percent, down at 11,689.50.

Yesterday, the BSE gauge settled 71.53 points, or 0.18 percent, lower at 39,122.96, and the Nifty dropped 24.45 points, or 0.21 percent, to 11,699.65.

Top losers in the Sensex pack included HCL Tech, Sun Pharma, Hero MotoCorp, Asian Paints, Tata Steel, TechM, TCS and IndusInd Bank, shedding up to 1.44 percent. On the other hand, Vedanta, ONGC, PowerGrid, RIL, NTPC, Maruti and Kotak Bank, rising up to 1.31 percent.

Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 207.33 crore, and domestic institutional investors purchased shares to the tune of Rs 984.43 crore, provisional data available with stock exchanges showed Monday.

Shanghai blue chips slipped 1.8%. That led MSCI`s broadest index of Asia-Pacific shares outside Japan down 0.4%, a Reuters report said. Japan`s Nikkei dipped 0.2%, while E-Mini futures for the S&P 500 edged down 0.18%. Wall Street had been just as cautious with the Dow ending Monday up 0.03%, while the S&P 500 lost 0.17% and the Nasdaq 0.32%.

With Agency Inputs