Market Opens Low Today, Sensex Below 60,000, Nifty Down 240 points, Dragged Down By IT Sector

The markets opened in red on Monday, Sensex below the 60,000 mark and Nifty down 240 points. The Indian markets mirrored their Asian peers today in the opening. Weak numbers from TCS and Infosys have put pressure.

Nifty was at 17,717.20and BSE Sensex was at 59,886.84 at 9:15 am when the markets opened.

Nifty futures on the Singapore Exchange traded 81.5 points, or 0.46 per cent, lower at 17,789.50. Even the Wall street had ended low on Friday on account of mixed economic data to affirm another Federal Reserve interest rate hike concerns.

Nifty IT index fell over 6% in early trade, percolating from previous week's weak Quarter performance numbers from two largest IT companies, along with weak US sentiment. Infosys has plunged the most by nearly 12%, followed by Tech Mahindra and HCL Tech with second maximum fall of nearly 7% and 5%. Wipro and TCS were down by nearly 3 % each.

Nifty Midcap index was at 30,788.10, down 0.31% and Nifty Smallcap index also fell by 0.41% at 295.55. Most of the sectoral indexes are in red today, Bank Nifty is down 0.68%, while Auto, FMCG and Realty sector indexes have gained marginally.

Even Rupee ended lower against dollar, it was at 82.89, down by 4 paise.