Opening Bell: Nifty slips below 17,400, Sensex sheds 100 points ahead of RBI MPC meet; banking, tech shares decline

Domestic stock market on Monday started on a negative note amid weaker global cues and ahead of RBI MPC meeting on Tuesday. 

The broader Nifty50 slipped below 17,500, while the S&P BSE Sensex declined by over 100 points in the opening trade.  

Dr Reddy's, Mahindra & Mahindra, Titan, State Bank of India, Nestle India, Sun Pharma and Axis Bank were top gainers, while Infosys, Kotak Bank, HDFC Bank, IndusInd Bank, Tata Steel and HCL Tech slipped the most on the Sensex on Monday.  

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The two indices opened at 17,463.65 and 58,549.67 respectively on Monday.  

In the preopen, the Sensex opened nearly 100 points lower to 58,549.67 as 13 shares were trading in the green and 17 sitting in the red on the 30-share Sensex.  

Earlier, SGX Nifty hinted at negative to flat opening for the Indian markets as the futures index traded 67.00 or 0.38% lower to 17,423.00 on the Singaporean Exchange at 9 am on Monday.  

Asian markets were trading lower largely after markets eased on stunningly strong U.S. jobs data, Russia-Ukraine tension. Japanese Nikkei 225 was down 0.80%, Hang Seng Index was trading lower by 0.52%, while Chinese Shanghai Composite traded 1.80% higher. 

Earlier on Friday, the US markets mostly returned to trading back in green. Except for Dow Jones, all major indices ended with gains on Friday. Dow Jones slipped marginally by 0.06%, while Nasdaq ended 1.58% higher, S&P500 closed 0.52% above and Russell gained 0.57%.