Sensex tumbles in opening trade, 330 pts lower at 54,152; Nifty down at 16,118

From the Sensex pack, Bharti Airtel, TCS, HCL Technologies, Tech Mahindra, Wipro, Infosys and UltraTech Cement were the major laggards.

Benchmark indices started the trade on a tepid note on Monday with the Sensex falling 330 points amid heavy selling in IT counters and weak trends in Asian markets.

From the Sensex pack, Hindustan Unilever, Reliance Industries, Bharti Airtel, HDFC and Nestle were the major laggards. (REUTERS)

The 30-share BSE benchmark declined 330.14 points to 54,151.70 in early trade. The broader NSE Nifty went lower by 102.75 points to 16,117.85.

From the Sensex pack, Bharti Airtel, TCS, HCL Technologies, Tech Mahindra, Wipro, Infosys and UltraTech Cement were the major laggards.

TCS tumbled 4.54 per cent after its earnings failed to cheer investors.

The country's largest software exporter TCS on Friday reported 5.2 per cent rise in June quarter net profit to ₹9,478 crore, restricted by the impact of annual wage hikes and promotions that took operating profit margins to multi-quarter lows.

Meanwhile, NTPC, M&M, ITC and ICICI Bank were among the gainers.

In Asia, markets in Shanghai, Hong Kong and Seoul were quoting significantly lower, while Tokyo was trading higher.

The US markets had ended on a mixed note on Friday.

The BSE benchmark advanced 303.38 points or 0.56 per cent to settle at 54,481.84 on Friday. The broader Nifty went higher by 87.70 points or 0.54 per cent to end at 16,220.60.

Foreign institutional investors remained net sellers on Friday, offloading shares worth ₹109.31 crore, as per exchange data.