Seven out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. 
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Seven out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Indian equity benchmarks traded lower in early deals on Monday amid weak global cues. The domestic indices were dragged by energy, consumer durables and metal shares. The 30-share BSE Sensex pack fell 113 points or 0.17 per cent to trade at 66,572, while the broader NSE Nifty moved 32 points or 0.16 per cent down to trade at 19,713. Mid- and small-cap shares were mixed as Nifty Midcap 100 rose 0.10 per cent and small-cap slipped 0.38 per cent.
On the global front, Asian equities declined ahead of monetary policy meetings of US Federal Reserve and European Central Bank. Back home, investors would also be keeping an eye on key corporate earnings.
Foreign institutional investors (FIIs) also snapped a six-day buying streak during the previous session, offloading Rs 1,999 crore of Indian equities on a net basis, while domestic investors bought Rs 1,291 crore of shares, as per provisional NSE data.
"The near-term market trend will be influenced by a host of factors like the recent Q1 results, some major results expected this week and policy decisions like the Fed meeting outcome on Wednesday," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Seven out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty Oil & Gas, Nifty Consumer Durables and Nifty Metal were underperforming the NSE platform by falling as much as 0.77 per cent, 0.66 per cent and 0.37 per cent, respectively.
On the stock-specific front, Kotak Mahindra Bank was the top loser in the Nifty pack as the stock cracked 2.50 per cent to trade at Rs 1,921. Reliance Industries, JSW Steel, Eicher Motors and Tata Steel fell up to 2.24 per cent.
In contrast, M&M, L&T, IndusInd Bank, Tata Motors and ITC were among the top gainers.
The overall market breadth was positive as 1,805 shares were advancing while 1,080 were declining on BSE.
On the 30-share BSE index, Reliance, Kotak Bank, HUL, ICICI Bank and Titan were among the top laggards.
Also, Tejas Networks, Coffee Day and Olectra Greentech down tanked up to 7.36 per cent. On the other hand, Aarti Drugs, SJVN, General Insurance Corporation of India and Supreme Industries climbed up to 10.52 per cent.
On Friday, Sensex had dived 888 points or 1.31 per cent to settle at 66,684, while Nifty had moved 234 points or 1.17 per cent lower to close at 19,745.
Nifty outlook
"Though Friday saw a close below VWAP, we are inclined to attach more importance to how the 10D SMA stepped in to arrest the sharp falls. This encourages us to expect Nifty recouping all of Friday’s loss and aim for 20,160. Alternatively, inability to float above 19,770-19,840 regions, or a direct fall past 19,700 could be taken as signal towards more weakness, with first objective at 19,460. An outright collapse is less expected though," said Anand James, Chief Market Strategist at Geojit Financial Services.
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