The stock markets started Monday's session on a cautious note, with the Sensex opening 60 points lower, as nervousness prevailed across Asian equities on global trade fears. In early morning deals, the Sensex was trading in a range of 32,659-32,521. The National Stock Exchange benchmark index Nifty also toggled between 10,010 and 9,975. At 9:25 am, 27 stocks on the Nifty 50 were trading in the positive zone. Tata Steel, IndusInd Bank, Ambuja Cements and Hindalco Industries - up between 0.7 per cent and 1.1 per cent - were among the top gainers on the 50-scrip NSE index. On the other side, GAIL India, HPCL, BPCL and Hero MotoCorp were the top laggards - down between 1 per cent and 2.3 per cent.
Shares in other Asian markets were battered by fears of a trade war between the US and China. Japan's Nikkei was down 0.6 per cent after falling to a near six-month trough at open. Chinese shares declined about 1 per cent in early trade. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent for its fourth consecutive day in the red.
Mounting worries over the imposition of trade protectionist measures coupled with a political deadlock may exacerbate further volatility in the Sensex and Nifty market this week, say analysts.
The equity markets will be closed on Thursday and Friday, on account of Mahavir Jayanti and Good Friday, respectively.
