The share market is heading for a fourth straight session of declines on Monday, with all sectors in the red as the Russia-Ukraine standoff continued to dampen risk sentiment.
In early morning trade, the NSE Nifty 50 index fell 0.82 per cent or 141.25 points to 17,135.05, while the S&P BSE Sensex was down 0.75 per cent at 57,398.98. If losses hold, both indexes will record their fourth day of declines in a row.
Offering a measure of relief, however, US President Joe Biden and Russia’s Vladimir Putin agreed in principle to hold a summit on Ukraine. The news boosted Wall Street futures and helped wider Asian shares pare sharp early losses, according to Reuters report.
In India, all major Nifty sub-indexes were trading in the red and 47 of the 50 stocks on the Nifty 50 index slipped early on Monday.
Shares of InterGlobe Aviation INGL.NS fell more than 2 per cent after co-founder Rakesh Gangwal resigned from the board of directors of the IndiGo airline operator and said he will cut his stake slowly in the next five years.