The domestic stock markets opened in the green but turned negative soon after even as the government tried to calm jittery investors by assuring that it would take all measures to ensure adequate liquidity for non-banking financial companies (NBFCs) and mutual funds. The S&P BSE Sensex opened at 36,924.72 and the Nifty50 barometer of the National Stock Exchange at 11,164.40. However, at 9:26 am, the Sensex traded at 36,726.62, down 114.98 points or 0.31 per cent and the Nifty50 at 11,088.80, with a loss of 54.30 points or 0.49 per cent.
Losing between 0.96-1.72 per cent, Maruti Suzuki, Bharti Airtel, Mahindra and Mahindra, ICICI Bank and Tata Motors were the top Sensex laggards.
On the NSE, all 12 PSU banking stocks and 18 out of 20 financial services shares traded in the red.
Asian shares eased in holiday-thinned trading and the safe haven yen gained as China cancelled upcoming tariff talks with the United States, while oil prices jumped after top producers including Russia ruled out boosting crude output, reported news agency Reuters.
US stock futures were a touch weaker while MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent.
Australian shares fell 0.25 per cent and New Zealand’s benchmark index faltered 0.6 per cent.
Most of the action was in currencies as financial markets in major Asian centres Japan, China and South Korea were closed for a holiday.
On Friday, the Sensex closed 279 points lower at 36,841 while the Nifty ended at 11,143, down 91.25 points. (With agencies inputs)