The BSE benchmark Sensex was trading on a flat note in trades on Monday owing to mixed global cues.
The 50-share Nifty was hovering around its important psychological level of 8,650 on the back of losses in heavyweights like ICICI Bank, HDFC and ONGC.
In Asia, Japanese stocks edged up to hit a 15-year high on Monday, with financial and real estate companies leading the gains, as investors bet on steady improvement in the Japanese economy and increased shareholder returns.
The Nikkei share average rose 0.3 per cent to 19,309.23, hitting a 15-year intraday high at one point and extending its gain so far this year to almost 11 per cent, outpacing many other markets.
On Friday, U.S. stocks slumped on Friday, putting the S&P 500 on track for its third straight weekly decline, as a robust dollar threatened to erode the profits of multinationals and tumbling crude oil prices pressured energy shares.
The Dow Jones industrial average fell 195.58 points, or 1.09 per cent, to 17,699.64, the S&P 500 lost 18.4 points, or 0.89 per cent, to 2,047.55 and the Nasdaq Composite dropped 33.64 points, or 0.69 per cent, to 4,859.66.
Back home, selling pressure was visible across the sectors. power, oil & gas, metal and IT stocks were the worst hit in the morning deals.
Back home, selling pressure was visible across the sectors. power, oil & gas, metal and IT stocks were the worst hit in the morning deals.
From the Nifty pack, Caitn India was the top loser, down 3.6 per cent at Rs 218. Jindal Steel, Sesa Sterlite, NMDC, HDFC and Cipla were also among the losers.
The Nifty was 14 points at 8,633 and the Sensex slipped 39 points to 28,464.
(With inputs from Reuters)
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