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Nifty slips below 11,800 mark; Shriram Transport Finance, RInfra drops

Reliance Industries, Axis Bank, IndusInd Bank, SBI and Kotak Mahindra Bank were the top contributors to the index losses, while Infosys, Airtel, TCS, and Asian Paints gained on the Sensex.
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Equity benchmark indices extended the decline in the morning trade on Monday amid rising global crude oil prices and trade tensions between US and China. The Indian rupee opened flat at 69.80 per dollar on vs. Friday's close 69.80/$.

Reliance Industries, Axis Bank, IndusInd Bank, SBI and Kotak Mahindra Bank were the top contributors to the index losses, while Infosys, Airtel, TCS, and Asian Paints gained on the Sensex.

The Sensex was trading at 39,319 levels, down 138 points, while the Nifty was trading lower 50 points at 11,773 levels. The market breadth was negative on the NSE with 513 shares advancing, 992 shares declining, and 548 remaining unchanged.

Shares of Reliance Infrastructure tanked 9% after the company reported a consolidated net loss of Rs3,301cr in Jan-Mar of FY19, as compared to a profit of Rs133c in the same period of the previous year.

Meanwhile, Asian stock markets were mixed at the start of a big week for central-bank policy. Treasuries edged lower. Japanese and Australian shares saw modest losses, while equities in Hong Kong opened with gains.

The Volatility gauge, India VIX was up 5.79% at 14.70.

The most active stocks on the NSE are Shriram Transport Finance, Yes Bank, IndusInd Bank, and Axis Bank.

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