Sensex Slips Over 300 Points On Weak Global Cues, Nifty Trades Below 17,750

The Indian equity benchmarks fell in opening deals on Thursday amid weak cues from the global markets.

Asian stocks retreated in line with a global selloff, as markets were spooked by more aggressive noises from U.S. policymakers about the need for tighter monetary policy. Investors also awaited Reserve Bank of India’s (RBI’s) bi-monthly policy outcome due on Friday.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) also indicated a gap-down start for the domestic indices.

The 30-share BSE Sensex slipped 337 points or 0.57 per cent to 59,273 in early trade, while the broader NSE Nifty moved 82 points or 0.46 per cent down to 17,726.

However, mid- and small-cap shares were trading on a positive note as Nifty Midcap 100 moved 0.25 up and small-cap shares rose 0.57 per cent.