Stock Market Live: Sensex slips over 200 pts, Nifty below 9050 post monsoon forecast

Tata Steel, Coal India, and Idea Cellular were the top losers on both indices, while SBI, HUL, Bank of Baroda and IndusInd Bank were the top gainers.

12:00 pm Market Check: Equity benchmarks fell further in noon, with the Nifty breaking 9050 level following weak monsoon forecast.

The 30-share BSE Sensex was down 217.11 points at 29,204.29 and the 50-share NSE Nifty fell 71.35 points to 9,036.65, dragged by private banks, FMCG, pharma and metals stocks.

The market breadth was in favour of declines. About three shares declined for every two share rising on the BSE.

ITC, HDFC Bank, Asian Paints, Tata Motors, ICICI Bank and Reliance Industries were down 0.5-2 percent.

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Engineering major Larsen & Toubro (L&T) today said its construction arm has bagged an order worth Rs 705 crore.

"The Water and effluent treatment business of the construction arm of L&T has won an order worth Rs 705 crore," L&T said in a BSE filing.

Shares of GVK Power & Infrastructure advanced 6 percent intraday Monday as it has completed the stake sale in Bangalore International Airport (BIAL).

The rupee gained momentum and was trading at a 17-month high against the dollar. At 10:43 am, the Indian currency was trading at 65.12, up 0.44 percent, against the greenback.

Asia markets were mostly lower after US President Donald Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system with the dollar weaker and gold prices up.

Expect Gold prices to trade higher today

Last week, Spot gold prices traded higher by 1.3 percent, to close at $1243.8/oz, while MCX gold prices rose by 1 percent at Rs.28793 per 10 gms.

We expect gold prices to trade higher today, international markets are trading higher by 1 percent at $1256 per ounce.

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