Equities extend declines, Nifty hovers around 11,750

Equity benchmark indices extended declines in the morning trade on Monday amid rising global crude oil prices and simmering trade tensions between the United States and China. Except for IT, all sectoral indices at the National Stock Exchange (NSE) were in the red. The nifty metal was down 1.5 per cent while realty slipped close to 1 per cent.

At 10:00 am, the BSE S&P Sensex was down 194 points at 39,258 while the Nifty 50 dipped 68 points to 11,756. Among stocks, Reliance Infrastructure dropped nearly 9 per cent after the company reported its worst-ever net loss of Rs 3,301 crore in the January to March of fiscal 2018-19 as compared to a profit of Rs 133 crore in the year-on period.

JSW Steel dived 2.6 per cent while Tata Steel was down 1.8 per cent. The other losers were Grasim, Vedanta and Reliance Industries. However, Yes Bank, Bharti Infratel, Wipro, Indiabulls Housing Finance and Larsen & Toubro showed some gains.

Meanwhile, Asian stocks markets were mixed at the start of the week. Japanese and Australian shares saw modest losses while equities in Hong Kong opened with gains. Still, investors remained cautious as continuing trade dispute between the United States and China as well as political tensions in the Middle East kept risk-appetite in check.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)