The Indian equity benchmark indices declined in the early trade on Monday following Asian peers as crude oil prices jumped over a record production cut by OPEC+ and concerns over coronavirus impact continued.

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At 9:42 am, the Sensex was trading 530 points lower at 30,629 while the Nifty was trading at 8,963, down 148 points.

Broader indices outperformed the benchmark indices with Nifty Smallcap100 and Nifty Midcap100 indexes up 0.86 percent and 0.41 percent respectively.

Selling among sectoral indices was led by Nifty Bank, Nifty Media, Nifty Auto and Nifty Financial Services, while Nifty Pharma and Nifty Metal were the only sectoral indices gaining.

Zee Entertainment, Bajaj Finance, IndusInd Bank, Axis Bank and Kotak Mahindra Bank led the losses among Nifty50 constituents while Bharti Airtel, Cipla, Hindalco Industries, Tata Motors and Vedanta were the top gainers.

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