Indian equities start new week in red on weak global cues
Mumbai, May 9, 2022
Indian equity benchmarks declined in opening deals on Monday on weak global cues.
Asian markets started the fresh week on a volatile note as the US stocks took a hit on interest rate worries.
At 9.28 a.m., the Sensex was 801 points or 1.5 per cent down at 54,034 points, whereas the Nifty was 242 points or 1.4 per cent down at 16,168 points.
"The latest U.S. jobs data cemented expectations the Federal Reserve will remain on its rate-hike path to combat stubbornly high inflation," said Deepak Jasani, Head of Retail Research, HDFC Securities.