Equity benchmark indices opened higher, however, it turned slightly lower as coronavirus fears persist in the global market and the earnings season reflected mixed results.
Further, the banking, financial and telecom companies will be in focus today after the Supreme Court's order on AGR dues has cast a shadow on the survival of telecom major Vodafone Idea, which is already reeling under financial distress.
The media reports said that Bharti Airtel, Vodafone Idea and Tata Teleservices will make some payment for adjusted gross revenue (AGR) dues today to avoid stringent punitive action from the Telecom Department.
The Sensex is down 47 points at 41,210, and the Nifty also slipped by 25 points at 12,088. GAIL, Yes Bank, Reliance and Dr Reddy’s among top gainers, while Airtel, Hindalco and Adani Ports were the top laggards on the Nifty50 pack.
The Indian rupee opened lower by 7 paise at 71.43 per dollar on Monday against Friday's close of 71.36.
Meanwhile, Asian markets were trading mixed on Monday’s session after data showed the Japanese economy shrank at the fastest pace in six years in the December quarter.
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