New Delhi: Markets extended losses in opening trade on Monday amid fresh weakness in the rupee and negative global cues.
The BSE Sensex plunged 325.59 points or 0.85 percent at 37,765.05 in early morning trade. The gauge had rallied 677.51 points in the previous two sessions. Similarly the NSE Nifty fell 98.95 points or 0.86 percent to 11,416.25.
Top losers on Sensex were were Axis Bank, Asian Paint, SBI, Tata Motors, Bharti Airtel, HDFC, HDFC Bank, NTPC, RIL, Yes Bank, Tata Steel and HUL, falling up to 2.08 percent.While, Wipro and Sun Pharma bucked market trend, and were trading in the green in the Sensex pack.
Meanwhile, the rupee again crashed below the 72-mark by plunging 81 paise to 72.65 against the dollar, despite the government's steps to stem a steep fall in the currency.
On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 1,090.56 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 115.14 crore on Friday, provisional data showed.
MSCI`s broadest index of Asia-Pacific shares outside Japan dropped 1 percent, snapping three straight sessions of gains. Shanghai blue chips fell 0.8 percent, while the Hang Seng shed 0.9 percent. EMini futures for the S&P 500 were off 0.2 percent, a reuters report said.
With Agency Inputs