In the early morning trade, benchmark indices lost as much as 450 points after US-President alarmed markets world over with his statement on imposing higher tariffs on China. The move hit the Indian markets also with decline in oil prices as well.
But in the later part of the trade on Monday, the stock market was off its day's lows and while Nifty was trading lower by 1.11% or 129.9 points below 11600 mark at 11582.35, Sensex dropped 1.03% or 402.06 points to 38561.20
Bharti Airtel ahead of its Q4 earnings traded higher, the company is expected to report a loss and a gain in its revenue.
OMC's gained after crude oil dropped on escalating US-China tensions.
Metal stocks have also been dragged lower, with Nifty Metal declining a great deal up to 2%
ICICI Bank, the private sector bank, to report its earnings today also traded lower.
Meanwhile, rupee traded lower at 69.41 on weak global cues as against Friday's close of 69.22