Sensex Falls Over 100 Points, Extending Losses For Second Straight Session

Stock Market India: Equity benchmarks fell in early trade on Monday.

Indian equity benchmarks fell in early trade on Monday as a jump in crude prices offset bets that measures to ease China's economic restrictions will eventually improve the outlook for global growth and risk assets demand.

The 30-share BSE Sensex index fell 135.87 points to 62,732.63 in early trade on Monday, and the broader NSE Nifty-50 index opened lower, defying a wave of green in other Asian bourses after news of Chinese cities reducing some of the stringent curbs imposed.

"Despite the positive momentum, traders may exercise caution ahead of the monetary policy week this week, as the market had already rallied sharply in little time while valuations also look a bit stretched," said Prashanth Tapse, Senior Vice President for Research at Mehta Equities.

Jumping oil prices after OPEC+ met on Sunday and maintained its output targets in anticipation of a pickup in fuel demand could limit advances in domestic equities.