The Indian markets opened on negative note after seeing a week dominated by bears in view of FIIs selling and negative global cues. The broader Nifty slipped below crucial 17,600, while the S&P BSE Sensex shed 200 points minutes into opening.  The two benchmark indices opened at 17,575.15 and 59,023.97 respectively.  

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JSW Steel, Asian Paints, Hindalco, Dr Reddy's, SBI Life, Tech Mahindra, HCL Tech, Infosys, Wipro, Bajaj Finserv and Bajaj Finanace were among those which dragged the markets the most on Monday.  

Maruti, Hindustan Unilver, ONGC, Reliance, Bharti Airtel, State Bank, Powergrid, Sun Pharma and NTPC were top gainer in a negative market.  

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In the pre-open, the Sensex started flat with negative bias as the index opened marginal 13 points lower to 59,023.97 as 14 shares advanced, 16 declined on the 30-share index.  

SGX Nifty earlier hinted at a negative opening for the domestic equity markets as the Futures index at the Singaporean Exchange traded lower by 110 points at 9 am on Monday.  

"The trend in global stock markets has turned distinctly bearish. Last week S&P 500 and Nasdaq closed 8% and 15% below their all-time highs. The sell-off in tech stocks has been brutal last week. European stocks too turned bearish.  The heightened tensions in the Russia-Ukraine border is a major geopolitical concern. FIIs again turning big sellers is a major headwind. Investors have to move cautiously," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

An important feature of the tech sell-off is that bulk of the selling is happening in non-profitable tech stocks, he said, adding, this trend is impacting stocks like Zomato and Paytm in India too. 

On Monday morning, the Asian market indices were trading in the red.  Japanese Nikkei 225 was trading with discount of 0.73%, Hang Seng index corrected over 1 per cent and Shanghai Composite declined 0.40% and SGX Nifty traded lower by as much as 0.52% at 7.30 am this morning.  

Asian share markets slipped on Monday as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years, said a Reuters report. 

"With gap-down openings tracking weak global cues, markets are likely to continue their sluggish trend. Foreign institutional investors (FIIs) are likely to continue selling, according to provisional data available on the NSE. FIIs net sold shares worth Rs 3,148.58 crore. Former RBI Governor Raghuram Rajan recently stated that the Indian economy has some bright spots and a number of extremely dark stains, and that the government should carefully target its spending to avoid large deficits," said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd. 

He said levels of 17500-17450 may act as important support levels in the market. "If the market sustains above the levels of 17500, we can expect the market to trade in the range of 17450-17800," he added 

Adding to the caution were concerns about a possible Russian attack on Ukraine with the U.S. State Department pulling out family members of its embassy staff in Kyiv. 

The New York Times reported President Joe Biden was considering sending thousands of U.S. troops to NATO allies in Europe along with warships and aircraft. 

That might be one reason EUROSTOXX 50 futures slipped 0.5%, while FTSE futures fell 0.4%. 

Earlier on Friday, all top Wall Street indices were in the red. Dow Jones corrected 1.30%, Nasdaq Composite tanked 2.72%, S&P500 slumped 1.89% and Russell 200 ended lower by whooping 1.78% on Friday's closing.