At 9.53 am, Sensex traded at 60,555.92 points, down 477.63 points or 0.78 per cent, whereas Nifty traded at 18,022.70 points, down 134.30 points or 0.74 per cent.
The volatility in the stock market on Friday was seen after the US Federal Reserve announced hike in the policy rates and thereafter by the Bank of England by 75 basis points.
Among the Nifty 50 stocks, Hero Motocorp, Divi's Labs, Infosys, Tech Mahindra, and Apollo Hospitals were the top five losers this morning, National Stock Exchange data showed.
Among the Nifty 50 stocks, Tech Mahindra, Hindalco, Wipro, Coal India, and Infosys were the top five losers, declining in the range of 1-2 per cent each, National Stock Exchange data showed.
The bullish trend in Indian stock indices continued for the third straight week as the benchmark index Sensex breached 60,000 after several weeks on Monday. The majority of the Asian markets rallied and traded in the green as investors cheered the news that the Federal Reserve would go slow
The indices rose on Monday tracking gains from Friday's US markets amid hopes of slower interest rate hikes coupled with healthy corporate earnings back here in India and the seeming return of foreign funds during the past week. The rally in the markets was backed by stock-specific movements