Stock Market Today: Sensex Slips 200 Points, Nifty below 16700

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The benchmark indices opened marginally lower on Monday amid weak global cues. The BSE Sensex fell 150 points to 55,890, and the NSE Nifty50 slipped 42 points to 16,680. 

ICICI Bank, Bajaj Finance, and Tata Steel were the top winners while Reliance, Tech M, Infosys, Ultratech Cement, Kotak Bank and TCS were the top laggards. 

The broader markets, meanwhile, opened in green. The BSE MidCap and SmallCap indices were up to 0.11 per cent higher.

Meanwhile, Rupee rises 5 paise to 79.85 against US dollar in early trade. 

Earlier, Nifty futures on the Singapore Exchange traded 81.5 points, or 0.49 per cent, lower at 16,643.50, signaling that Dalal Street was headed for a negative start on Monday.

U.S. stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.

Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares lost 0.62% to 158.68, after touching the highest since June 29 at 160.03 on Friday.

Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world’s biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for a fourth day.