The BSE benchmark Sensex today fell by over 14 points in the opening trade due to profit-booking at higher levels amid a weakening Asian trend.

The 30-share index, which had gained 324 points in the last three session, fell by 14.60 points, or 0.07 per cent, to 18,740.85 in the first five minutes of trading. Similarly, the wide-based National Stock Exchange Nifty Index shed 7.20 points, or 0.12 per cent, to 5,690.50.

Brokers said investors booked profits, following upsurge in the past few seasons.They said the sentiments further dampened on a weakening Asian trend.

The Asian markets were down, tracking a sell-off in global shares late last week, as investors continued to shed risk ahead of the closely fought US presidential election and looked past a strong US jobs data to fragile economic growth worldwide. Meanwhile, in the Asian region, Japan’s Nikkei was down by 0.44 per cent, while Hong Kong’s Hang Seng index fell 0.39 per cent. The US Dow Jones Industrial Average ended 1.05 per cent lower in Friday’s trade.

GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange fell 0.2 percent. The MSCI-Asia Pacific index excluding Japan is down 0.3 percent. U.S. stocks ended an unusual storm-shortened trading week with a selloff on Friday, as major indexes erased early gains sparked by a stronger-than-expected payrolls report.

Asian shares fell on Monday, tracking a sell-off in global shares late last week, as investors continued to shed risk ahead of the closely fought U.S. presidential election and looked past a strong U.S. jobs data to fragile economic growth worldwide.

FACTORS TO WATCH

Earnings on Monday: Cipla, Reliance Power , Tech Mahindra India’s inter-ministerial panel will hold a 2-day review on coal block allocations to 31 state-run companies. Reuters has not verified third-party stories and does not vouch for their accuracy. TOP NEWS

India’s economy should expand by 5.5 percent to 6.0 percent this year and growth should then return to 7 percent next year, Finance Minister P. Chidambaram told Reuters on Sunday, and said inflation was at an unacceptable level.

India’s embattled Congress party sought to drum up support for the contentious opening up of the country’s vast retail sector to big foreign chains at a mass rally on Sunday, saying supermarkets would help farmers and consumers battling high inflation.

A high-profile tax dispute between the Indian government and British telecoms operator Vodafone Group has made it unlikely that India will sign a foreign investment protection treaty with Canada during a visit this week by Prime Minister Stephen Harper, Canada’s top diplomat in India said on Sunday.

FINANCIAL/REGULATORY

Carlyle Group is in advanced negotiations with the promoters of Prizm Payments for a controlling stake in one of India’s leading electronic payments service providers, said three people with knowledge of the developments.

MCX-SX, India’s new stock exchange, will formally launch trading in equity, equity futures and options and other segments once it gets 350 trading members connected to its systems, according to a statement issued on Friday. ENERGY/COMMODITIES

The Odisha state government has asked leading steel and iron ore companies to pay over 500 billion rupees ($9.30 billion) for alleged illegal and excess mining.