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Stock Market: Sensex, Nifty plunge in early trade, Titan among top losers

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Indian equity benchmarks declined in the opening session on Monday taking cues from volatility from the global markets.

At 9.19 a.m., Sensex was at 56,680 points, down 0.7 per cent, whereas Nifty was at 16,990 points, down 0.7 per cent.

IANS

By 11 a.m., Sensex remained rather static at 56,688.65 or 372.22 (0.65%) points down while Nifty is hovering around 16,975.45 or 127.10 points down (0.74%).

Among the stocks, Titan was the top loser, declining 2.7 per cent.

Mohit Nigam, Head – PMS, Hem Securities, said it is the worst monthly slide in the US markets after April 2020.

“Asian markets are trading negative in the early Monday trade. Financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand are closed on Monday for public holidays,” Nigam said.

Some stock specific actions can be witnessed in stocks such as Wipro, IndusInd Bank, SBI Cards, Tata Chemicals, Tanla Platforms as all these companies posted their earnings last week.

Earnings for the day include Adani Wilmar, Jindal Stainless, INOX Leisure, IDBI Bank, HDFC, Castrol India, Britannia Industries, Nigam said.