Sensex 500 pts lower at 75,430; Nifty at 22,780; Bank, Metal, IT, Smallcaps drag

Benchmark equity indices BSE Sensex and Nifty50 were trading lower on Monday, amid an uncertain outlook.

At 10 AM, the BSE Sensex was lower by 527.39 points, or 0.69 per cent, at 75,411.82, and the Nifty50 was at 22,772.85, down by 156.40 points, or 0.68 per cent.

The BSE Sensex and NSE Nifty 50 ended their two-week winning streak last week, closing significantly lower. The BSE Sensex reached a low of 75,338 before closing the week with a loss of 2.5 per cent or 1,921 points at 75,939. Its counterpart, the Nifty 50 index hit an eight-month low at 22,775 and settled with a loss of 2.7 per cent at 22,929. Will the Sensex and Nifty extend their losses, or can the benchmark indices bounce back? Here’s what the technical charts suggest.

In the mainline section of the primary markets, Ajax Engineering IPO shares listed on the BSE with a discount of 6 per cent, and the basis of allotment for Hexaware Technologies IPO will get finalised today. Quality Power Electrical Equipments IPO will enter Day 2 of its subscription window.

In the SME segment, Chandan Healthcare IPO will list on the bourses, and PS Raj Steels IPO, Voler Car IPO and Maxvolt Energy Industries IPO will see their basis of allotment get finalised today. Shanmuga Hospital IPO and L.K. Mehta Polymers IPO will have their last day of subscription, while Tejas Cargo India IPO and Royalarc Electrodes IPO will see Day 2 of their subscription window.