Equity indices open in red

Indian equity markets opened lower on Monday as investors stepped up selling in consumer durables, automobile and banking stocks, putting pressure on the benchmark indices.

At around 9.25 a.m., the Nifty 50 on the National Stock Exchange was trading at 11,088.80 points, down 54.30 points, or 0.49 per cent, from its previous close of 11,143.10.

The S&P BSE Sensex was also in negative territory. After opening at 36,924.72 points, it was trading at 36,774.17, down 67.43 points, or 0.18 per cent, from its previous close of 36,841.60.

During the early session, the Sensex moved between an intraday high of 36,945.50 and a low of 36,679.03, indicating continued volatility during the opening phase of trade.

The early weakness was led by selling pressure in key sectors, particularly consumer durables, automobiles and banking. These sectors have a significant influence on overall market sentiment, making their performance important for the direction of the broader indices.

The cautious opening came as investors remained watchful of domestic economic developments, corporate performance and broader global market cues. Early movements in heavyweight banking and auto stocks were likely to remain important in determining whether the indices could recover during the rest of the trading session.