Sensex down 400 pts, Nifty around 17,000

Indian indices witnessed a negative start on Monday, tracking mixed global cues.The Russia-Ukraine conflict, high oil price, and Covid-19 lockdown in Shanghai continue to keep the global market on edge, while the investors are assessing how aggressive the US Fed will be in its monetary policy to combat inflation.

Indian markets have shown resilience despite global concerns. However, changes in rupee and investor pattern of FIIs could add to the volatility seen in the last few sessions. In Asia, shares in Japan, Hong Kong, South Korea, and Shanghai declined, while that in Australia advanced on Monday in early trade.