Sensex down 531 pts, Nifty below 18,200; Europe opens higher

The benchmarks indices were trading with deep losses near the day's low in afternoon trade. The Nifty was trading below the 18,150 mark. Mixed global stocks dented investors' sentiment. Selling was wide spread. However, select media and PSU banks shares bucked the weak market trend.

At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 531.30 points or 0.86% to 61,132.18. The Nifty 50 index lost 169.10 points or 0.92% to 18,138.55.

In the broader market, the S&P BSE Mid-Cap index shed 0.26% while the S&P BSE Small-Cap index rose 0.07%.

The market breadth was negative. On the BSE, 1389 shares rose, and 2110 shares fell. A total of 175 shares were unchanged.

BPCL (up 1.69%), Bharti Airtel (up 1.19%), Axis Bank (up 0.87%), Hindustan Unilever (up 0.72%) and Apollo Hospitals Enterprise (up 0.24%) were top Nifty gainers.

JSW Steel (down 2.12%), HDFC (down 1.96%), SBI Life Insurance Company (down 1.83%), Reliance Industries (down 1.78%) and Adani Ports and SEZ (down 1.68%) were major Nifty losers.

Global Markets:

The Dow Jones index futures were down 111 points, indicating a weak opening in the US stocks today.

European shares rose across the board while most Asian stocks declined on Monday. Investors continued to assess the trajectory of monetary policy after some tough statements fromU.S. Federal Reserveofficials.

Meanwhile, China left its benchmark lending rate unchanged for a third month in a row, according to an announcement from the People's Bank of China. The one-year loan prime rate is steady at 3.65%, and the five-year rate is also on hold at 4.3%, the notice said.

Japan's core consumer inflation accelerated to a 40-year high in October. The nationwide core consumer price index (CPI) was up 3.6% on a year earlier, exceeding the 3% gain seen in September.

US stocks ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.

Federal Reserve Bank of Boston leader Susan Collins said that, with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control.

In U.S. economic data, the National Association of Realtors said Friday that existing-home sales fell 5.9% in October, slumping for a ninth straight month. That's down 28.4% from a year earlier.

Meanwhile, the U.S. leading economic index fell 0.8% in October, an eighth straight monthly decline, according to a Conference Board report Friday.

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