The key equity barometers traded with minor losses in morning trades. Nifty moved in a range of 23175-22939. Nifty PSU Bank and Nifty Media shares gained, while Nifty Private Bank and Nifty Financial Services shares fell.

NIFTY moved higher by 0.65% in last session and posted modest losses of 0.31% over last one-week.

At 12:15 IST, the barometer index, the S&P BSE Sensex, shed 758.25 points or 1.01% to 73,971.02. The Nifty 50 index declined 185.35 points or 0.80% to 22,960.80.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index inched down 0.58% and the BSE 250 SmallCap Index decreased by 1.04%.

The market breadth was unfavorable. On the BSE, 1532 shares advanced and 3367 shares retreated. A total of 267 shares were unchanged.

Nifty PSU Bank index rallied 2% to 8256. The index has eased by 2.19% in last one month and inched up 5.28% over last one year. Punjab Natl.Bank, inching higher 4.95%, led the gainers followed by Union Bank (I), edging up 3.63% and Canara Bank, gaining 2.78%, respectively. Out of 12 index constituents, 10 are reporting gains today.

Nifty Media index moved higher by 0.06% to 1649. The index has advanced 8.79% in last one month and posted modest gains of 6.77% over last one year. Tips Music, up 4.91%, led the gainers followed by Zee Entertainmen, adding 0.72% and Saregama India, up 0.70%, respectively. Out of 10 index constituents, 5 are reporting gains today.

Nifty Private Bank index declined 1.72%. The index has inched higher by 1.53% in last one month and lost 1.55% over last one year. Axis Bank, losing 3.50%, led the losers followed by Yes Bank, down 2.45% and HDFC Bank, edging lower 2.41%, respectively. Out of 10 index constituents, 9 are reporting loss today.

Asian markets were marginally lower on Monday. China’s Shanghai composite is modestly higher by 0.49%, Hong Kong’s Hang Seng is lower by 0.52%. Japan’s Nikkei 225 is trading lower by 0.62%.

In Europe, German DAX inched higher 0.09%, UK’s FTSE 100 ticked up 0.38% and French CAC moved up 0.28%.

In Commodities, MCX Crude oil lost 1.66% to trade at Rs 9,570 per barrel.