Sensex Sheds Over 100 Points, Nifty Below 15,800

The domestic stock markets have opened marginally in the red, after closing at record highs on Friday, due to the emergence of profit-booking at high levels. At 9:18 am, the BSE Sensex was trading at 52,405.50, lower by 75.15 points or 0.13 per cent and the NSE Nifty was at 15,765.54, down 34.50 points or 0.20 per cent.

Asian markets were higher, with multiple major markets in the region closed for holidays. In Japan, Nikkei 225 rose 0.45 per cent and Topix index gained 0.25 per cent

U.S. stocks closed modestly higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.

The Dow Jones rose 0.04 per cent, the S&P 500 gained 0.19 per cent and Nasdaq Composite added 0.35 per cent.

Meanwhile, oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased Covid-19 vaccinations help lift travel curbs.

Brent crude was up 14 cents, or 0.2 per cent, at $72.83 and U.S West Texas Intermediate was also up 14 cents, or 0.2 per cent, at $71.05 a barrel, reaching the highest since October 2018.

In the primary market, the Shyam Metalics IPO and Sona Comstar IPO will open for subscription on Monday.

On the earnings front, Coal India, IDFC, Indian Overseas Bank and Aditya Consumer will declare their Q4 numbers during the day.

On Friday, the BSE Sensex had rallied 174.29 points to close at 52,474.76 and the Nifty climbed 61.60 points to end at 15,799.40.