Markets open lower as Sensex trades at 57,226, Nifty loses 189 points

Domestic equity gauge Sensex tumbled over 600 points in early session on Monday in line with sell-offs in global equities amid ongoing geopolitical tensions in eastern Europe.

The 30-share BSE benchmark was trading 606.30 points or 1.05 per cent lower at 57,226.67 and the NSE Nifty was down by 189 points or 1.09 per cent at 17,087.30 in opening deals.

Barring NTPC and PowerGrid, all Sensex shares were trading with moderate to hefty losses.

Elsewhere in Asia, bourses witnessed massive sell-offs in their opening deals but regained some lost ground on reports of a likely meeting between US President Joe Biden and Russian President Vladimir Putin over the Ukraine issue.

Biden has agreed “in principle” to a meeting with Putin as long as that country holds off on what US officials believe is an imminent assault on Ukraine.

White House press secretary Jen Psaki said the administration has been clear that “we are committed to pursuing diplomacy until the moment an invasion begins”.

Crude oil benchmark Brent Futures dropped 0.30 per cent to trade at 93.33 per barrel.

Continuing their selling spree, foreign institutional investors offloaded shares worth ₹2,529.96 crore in the Indian capital markets on Friday, exchange data showed.