Stock market opens on dull notes

Sensex down 650 ponts

Mumbai: Indian benchmark indices — S&P BSE Sensex, and Nifty50 — started on the backfoot on Monday. The 30-stock BSE benchmark was quoting at 72,138, down 525 points or 0.72 per cent, while the NSE frontline index dropped below the 21,950-level.

Tata Motors (down over 7 per cent), JSW Steel, Power Grid, M&M, Bharti Airtel, Reliance Industries, Tata Steel, and Maruti Suzuki were the top laggards on the bourses, capping upside.

Meanwhile, in the broader market, the S&P BSE MidCap, and SmallCap indices slipped over 1 per cent each.

Among sectors, the Nifty Auto index shed 2 per cent, followed by the Nifty Metal index (down 0.6 per cent). On the upside, the Nifty Pharma gained 0.8 per cent.

New listing
Indegene made a strong stock market debut with its shares got listed at Rs 659.70, a 46 per cent premium over its issue price of Rs 452 per share on the BSE on Monday.