Markets open in red; Sensex falls 311 points, Nifty below 11,320

New Delhi: Markets opened in red on Monday led by decline in banking stocks, tracking weak global cues.

The BSE Sensex fell 311.69 points or 0.81 percent to 38,025.32 in early trade while the NSE Nifty tanked 100.85 points or 0.88 percent to 11,318.40.

Top losers in the Sensex pack were Bajaj Finance, HDFC Bank, HDFC, IndusInd Bank, Kotak Bank, Power grid, Bajaj Auto, ITC, NTPC, HUL, Tata Steel and LT, falling upto 3.36 percent. On the other hand shares of Vedanta, Tata Motors, Asian Paint, Yes Bank, RIL, Maruti, Infosys, Sun Pharma, Tech Mahindra and TCS were trading in green, rising upto 2.64 percent.

In the previous session on Friday, the BSE Sensex tanked 560.45 points or 1.44 percent to 38,337.01 while the NSE Nifty closed 177.65 points or 1.53 percent to 11,419.25 .
Among Asian peers MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.4%. Japan`s Nikkei fell 0.3%, the Shanghai Composite Index was down 1.1%. Hong Kong`s Hang Seng dropped 0.9%. South Korea`s KOSPI shed 0.1%, a Reuters report said.

With Agency Inputs