IT and auto stocks gained in early trade.

Sensex, Nifty open flat despite gains in IT and auto stocks

The S&P BSE Sensex was down 48.63 points to 79,437.69, while the Nifty50 lost 20.40 points to 24,127.80.

by · India Today

Benchmark stock market indices opened flat on Monday despite a gain in IT and auto stocks with the markets being dragged down by a decline in energy and metal stocks.

The S&P BSE Sensex was down 48.63 points to 79,437.69, while the Nifty50 lost 20.40 points to 24,127.80 as of 9:40 AM.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said that sustained rally in the US markets which have taken the Dow and S&P 500 above 40000 and 6000 respectively, is no longer a tailwind for Indian markets.

"Expectations that tax cuts promised by Trump and his pro-business policies will boost corporate earnings in the US are driving the rally," he added.