Sensex sheds over 77 points in early trade on negative global cues

New Delhi: Markets opened in the negative terrain on Monday tracking losses in index majors amid negative global cues.

The BSE Sensex dropped 77.19 points or 0.19 percent to 40,608.31 in early trade while the NSE Nifty fell 20.90 points or 0.18 percent to 11,909.45.

Major losers in the Sensex pack were RIL, Tata Steel, Asian Paint, Titan, ITC, M&M, NTPC, ICICI Bank, Bajaj Finance, Kotak Bank, Tech Mahindra and SBI, losing upto 1.90 percent. On the other hand, major gainers were Nestle, IndusInd Bank, Powergrid, HCL Tech, LT, Bharti Airtel, TCS, HDFC, Sun Pharma, Ultrachem, Maruti and HUL, rising upto 2.44 percent.

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Exchange data showed that foreign institutional investors bought equities worth Rs 906.93 crore on a net basis on Friday.

Meanwhile, international oil benchmark Brent crude was trading 1.64 per cent lower at USD 41.38 per barrel.

S&P 500 futures down 0.5%. EUROSTOXX 50 futures eased 0.4% and FTSE futures 0.3%. MSCI`s broadest index of Asia-Pacific shares outside Japan went flat, still short of its recent 31-month peak. Japan`s Nikkei dithered either side of steady, and South Korea`s main index lost 0.3%, a Reuters report said.