Indices decline in opening trade, Sensex down by 970 points

India's benchmark equity indices declined sharply in early trade on Monday as surge in inflation dented investors' sentiment.

Consumer Price Index or retail inflation rose steeply in March to 6.95 per cent, which was above Reserve Bank of India's upper tolerance band of 6 per cent for three consecutive months.

At 9.36 a.m., Sensex was at 57,368 points, down 970 points or 1.66 per cent, whereas Nifty at 17,220 points, down 256 points or 1.46 per cent.

For fresh cues, all eyes would be on the Q4 earnings of India Inc.

SEE ALSO:
What's the new Omicron XE variant and should I be worried?
Tata Neu has been downloaded 2.2 million times in the last one week