PC Jeweller rallied more than 20 per cent in early trade on huge buying, after the stock hit hard in previous session.
After shedding 800 points on Friday, Key indices as widely expected opened in red. The benchamrk BSE index opened 500 points lower, Nifty also remained below the 10,000 mark.
The 30-share BSE Sensex was down 527.75 points or 1.50 percent at 34,539 and the 50-share NSE Nifty fell 166.40 points or 1.55 percent to 10,594.20.
At 9:30 AM, Nifty was down by 150 points to trade at 10,635.95 and Sensex was down by 377 points at 34,688.94.
PC Jeweller rallied more than 20 per cent in early trade on huge buying, after the stock hit hard in previous session.
Vakrangee, Inox Wind, HCC, IFCI, Westlife Development, Union Bank of India were among the top losers in early trade.
The indices on Friday, day after Budget 2018, witnessed a bloodbath. The benchmark BSE Sensex nosedived to 830 points to clost at 35,066.75 while Nifty fell 256.30 points to reach at 10,760.60 mark.
The MidCap was down by 4.03 per cent, while SmallCap fell 4.65 per cent.
Indian bonds rallied on Friday, recovering from losses that earlier sent benchmark 10-year yields up as much as 8 basis points, on a media report the central bank might buy bonds from the open market to support the country's weakening debt markets.
One of the main reason behind the bloodbath at Dalal street besides global cues and fiscal slippage, is that the long-term capital gains (LTCG) tax has come with a grandfathering clause, investor sentiment has taken a hit as experts believe it is retrograde step, and malign India’s image worldover making it one of the most-taxed countries. They also say foreign investors will flock to countries like Singapore and Dubai, which do not tax long-term capital gains.
Meanwhile, Asian shares fell the most in over a year on Monday as fears of resurgent inflation battered bonds, toppled Wall Street from record highs and sparked speculation that central banks globally might be forced to tighten policy more aggressively.
MSCI's broadest index of Asia-Pacific shares outside Japan shed 1.8 per cent in the largest daily drop since late 2016.
E-Mini futures for the S&P 500 fell another 0.44 per cent, an unusually sharp move for Asian hours and suggesting further losses in US markets later in the session.
Japan's Nikkei sank 2.4 percent, while Australia's main index lost 1.7 percent and Chinese blue chips slid 1.1 percent.
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 "Sensex opens 500 points lower, Nifty below 10,600; PC Jeweller surges above 20%")
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