Market opens lower as investors book profits

Disappointing Chinese trade data and uncertainty over the crisis in Ukraine weighed on the sentiment

Market opened lower amid profit booking amid tepid global cues on Monday. The SGX Nifty levels in the pre-market indicated a weak start; it is down 37 points at 6518.

The 30-share BSE Sensex was down 37 points at 21,882 levels and the 50-unit NSE Nifty was down 19 points
at 6,503.

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Japanese shares slipped from a five-week high on Monday morning as disappointing Chinese trade data and uncertainty over the crisis in Ukraine prompted investors to lock in recent gains. Although the US jobs data released on Friday was surprisingly strong, it provided limited support because it also cemented expectations of a further reduction in US monetary stimulus
 
Asian stocks slipped in early trade on Monday and the dollar stepped back from its recent highs as disappointing Chinese trade data and uncertainty over the crisis in Ukraine kept risk appetite in check.

The market ignored stronger-than-expected US nonfarm payrolls report, which showed employers had added 175,000 jobs last month, up from 129,000 new positions in January.

Foreign investors posted on Friday their biggest daily purchases since Dec. 9, or a net 25.77 billion rupees ($420.73 million). That marked a 16th consecutive buying session for a net total of about $1.4 billion.

The rupee is trading at 61.23 versus the dollar