The benchmark indices opened flat on Monday, following losses in Asian shares, amid growing uncertainty over US-China trade talks. Investors are keenly watching whether the United States and China will be able to reach a deal to end their trade war after Washington sharply hiked tariffs. Q4 earnings, macro data, and the ongoing Lok Sabha elections will also affect the market sentiment going ahead. The retail inflation data is scheduled to be released early this week.

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NSE

At 9:20 AM, the Sensex was down 88 points at 37,374, and the Nifty50 was trading 34 points lower at 11,245.

SBI, ONGC, Tata Motors, Bajaj Finserv, and Coal India were among the major gainers on Nifty50, whereas Tata Steel, Eicher Motors, Bharti Airtel, Adani Ports and Indiabulls Housing led the losses.

All sectors, except Nifty IT and Nifty PSU Bank, traded in the red. Nifty Metal and Nifty Pharma indices lost the most in opening trade, down 0.8 percent each.

Tata Steel slipped 2 percent, extending Friday's losses after Thyssenkrupp said that it will still seek partners for its steel operations after abandoning a European merger with Tata Steel.

Eicher Motors also fell 2 percent after the Royal Enfield maker posted in-line set of numbers amid concerns over volume growth due to subdued consumer sentiments. Royal Enfield registered a significant volume decline of 14 percent on a year-on-year (YoY) basis during the quarter. The volume growth was hit due to overall weakness and subdued customer sentiments in the auto sector.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent, nearing its two-month low marked on Thursday. Japan’s Nikkei average sunk as much as 1.0 percent to hit its lowest level since March 28. It last traded down 0.6 percent.

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