Sensex, Nifty open a tad down in early trade, negative sentiment writ large today

Sensex, Nifty open a tad down in early trade showing that the markets are still under the spell of a negative sentiment owing to the prolonged war in Ukraine and skyrocketing prices of commodities

India's key equity indices -- Sensex and Nifty -- traded marginally lower during early trade on Monday, continuing the negative sentiments in the maket following the prolonged war in Ukraine and uncertain commodity prices worldwide.

At 9.48 a.m., Sensex was 0.1 per cent or 71 points down at 57,793 points, whereas Nifty 0.1 per cent or 10 points down at 17,277 points.

As of 11:35 a.m, it was trading at 57,795.91 or 68.02 points lower or 0.12% down. Similarly, Nifty50 was further down at 17,265.25 or 21.80 points below the last closure or 0.13% down.

After a sharp decline in the wake of the Russia-Ukraine war, the Indian equity benchmark Sensex had increased over 5,000 points in the past eight trading sessions since March 8. During the said time period, Nifty rose over 1,400 points.

"Nifty after the 15 per cent correction from the peak has climbed back by 10 per cent. This resilience of the market even in the midst of uncertainties and challenges is significant from the investors' perspective. For the short-term the biggest positive for the market is the FPIs turning buyers. Crude again back at $110 is a headwind," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.