Opening Bell: Nifty, Sensex decline 2% each amid weak global cues

The Indian markets started on a weak note on Monday in line with its Asian peers amid negative global cues, including Russia-Ukraine tension. SGX Nifty too hinted at a negative opening for the Indian markets as Future index at the Singaporean Exchange traded 205 points or 1.18% lower to 17,149 around 9 am on Monday.  

Broader Nifty50 was seen testing 17,000-mark as the indices declined 2 per cent. The Nifty 50 and the Sensex opened at 17,076.15 and 56,720.32 respectively.  

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ONGC, TCS were the only gainers in an otherwise negative market. All broader market indices turned red in the morning as Banking, auto and financial services sectors were seen under maximum pressure amid Russia-Ukraine Tension.  

In the pre-open, the Sensex declined by massive 1432.6 points or 2.46% to 56,720.32 as only two stocks traded in the positive, while remaining 28 shares were sitting in the red on the 30-share index.  

Earlier, all major Asian indices were trading lower. Japanese Nikkei 225 was down over 2.57%, Hang Seng Index was trading lower by 1.45% and Shanghai Composite was down by 0.54% in the morning trade.  

The US markets too had closed in the red on Friday. Dow Jones ended 1.43% lower, Nasdaq Composite declined 2.78%, S&P500 dipped 1.90% and Russell 2000 had settled with 1.02% loss on Friday.