Market slips in early trade; Yes Bank, Cipla stocks drag

Axis Bank, TCS, HCL Tech and ITC are among the top gainers, while Yes Bank, Cipla and Sun Pharma were the top laggards on the Nifty50.

Equity benchmark indices opened in the negative zone tracking mixed global cues. Among sectors, buying was witnessed in IT and energy space, while auto, bank, metal, and pharma are under some pressure.

The Sensex is down 108 points at 38,714, and the Nifty down 33 points at 11,479. About 665 shares have advanced, 835 shares declined, and 559 shares are unchanged on the NSE.

Axis Bank, TCS, HCL Tech and ITC among top gainers, while Yes Bank, Cipla and Sun Pharma were the top laggards on the Nifty50.

The Indian rupee opened higher by 14 paise at 70.42 per dollar versus Friday's close 70.56.

The India VIX is marginally up by 0.49% at 16.19.

Meanwhile, oil prices edged higher after rebounding from a two-week low in the previous session, although gains were checked by concerns about the outlook for the global economy.

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