Market starts in red, Sensex drops 500 points

Mumbai: Indian benchmark indices BSE Sensex and NSE Nifty on Monday trade lower. Sensex slipped to 500 points while nifty trading below 1700 so far. Bear has made a comeback on Dalal Street. SGX Nifty was trading in red ahead of today’s session, hinting at a gap-down start for Indian equities. Global cues were weak as Oil prices rose, and shares in Asia mostly fell as markets enter the last quarter of the year. Hong Kong’s Hang Seng index was 0.8% lower, Japan’s Nikkei 225 fell more than 1%, while the Topix index was fractionally lower. Meanwhile, China markets are closed for the Golden Week holiday, and South Korea’s share market is also closed.