Indian equity benchmark indices opened lower on Monday following the trend in global markets that are currently trading in the red as tensions escalated in West Asia after a US strike killed top Iranian general Qassem Soleimani last week. Spot gold and crude oil prices have surged since Friday as investors scurried to book profits with currently escalating geopolitical tensions.

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At 9:15 am, the Sensex opened 195.11 points or 0.47 percent lower at 41,269.50 while the Nifty50 opened at 12,166.40, down 60.25 points or 0.49 percent. India VIX (volatility index) was up 15 percent.

VIX is an indicator of the market mood in the short term, and shares an inverse relationship with the market.

Broader markets also supported the losses in equity indices by opening in the red, Nifty Midcap100 index was down 0.54 percent while the Nifty Smallcap100 index traded 0.44 percent lower.

All Nifty50 sectoral indices traded in the red except Nifty IT. At 9:30 am, Nifty PSU Bank index was down 2.23 percent. PSU Banks are trading lower on Monday over the government's reconsideration on the personal income tax cut.

Titan, HCL Technologies, TCS, Wipro, and Infosys were the Nifty50 top gainers, while Hindalco, Asian Paints, Coal India, SBI, and Power Grid Corporation led the losses.

Dishman Carbogen's share price surged 4.76 percent intraday after the company's board in its BSE regulatory filing intimated the shareholders that it is considering a buy-back.

In Asia, markets toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks.

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First Published:Jan 6, 2020 9:54 AM IST