Sensex slips 500 pts, Nifty below 22,400 mark

Indian equity indices made a muted start on the first trading session of the week in line with global cues. BSE Sensex opened 929.74 points, or 1.24 per cent lower at 73315.20 while Nifty inched 180.40, or 0.80 per cent at 22,339.00.

During the session, PSU banks remain under pressure with stocks of key companies falling up to 5 per cent.

International crude oil prices remained elevated above $90 a barrel as market participants dialled back risk premiums following Iran’s attack on Israel last weekend following the alleged Israeli action on the Iranian embassy in Syria. Despite warning from the US and allies, Tehran has filed a swarm of drones and barrage of missiles to avenge the killing of its elite IRGC personnel.

Brent futures for June delivery fell 17 cents, or 0.19 per cent, to $90.28 a barrel while West Texas Intermediate (WTI) futures for May delivery were down 29 cents, or 0.30 per cent, at $85.41 a barrel by 9:30 am.