Sensex and Nifty erased all opening gains and traded lower during Monday’s morning trade session.
The BSE Sensex, which gained as much as 275 points during opening traded, erased all gains and slipped 145 points to a low of 34,588.52 points during the morning time.
The NSE Nifty slipped below the 10,450 level. The Indian rupee fell 36 paise to 73.93 against the US dollar in early trade today amid rising crude oil prices.
HUL was the top loser on the Sensex. The company reported a 19.51% on-year rise in net profit to Rs 1,525 crore. Shares of Avenue Supermarts (DMart) shares, too, slipped 6% after it posted a 19% year-on-year (YoY) growth in its net profit to Rs 226 crore.
Asian shares slipped on Monday as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism.