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After the signs of weakness in the global market, the Indian markets have also opened with a fall. The Sensex is trading down about 103.50 points. At present it is at the level of 56006. On the other hand, Nifty is trading at the level of 16694 coming below 16700. After the market opened on Monday, auto and pharma sector stocks are showing weakness in early trade.
There is a break in the US market after three days of rally. Dow Jones closed down 140 points while trading in the range of 500 points. At the same time, a weakness of 1.95% has been seen in Nasdaq.
Today Asian markets are trading down. SGX Nifty recorded a decline of 0.43 per cent. The US Federal Reserve meeting is scheduled to be held on July 27, during which interest rates are expected to increase by 0.75 percent.
In Monday’s trading session, the shares of Reliance Industries Limited and Oil India Limited have seen a weakness of two percent. At the same time, Zomato has fallen to its lowest level of 52 weeks.