The Indian markets open in red amid weakness in the global markets. Oil prices decline after rallying for three days. 

Indian stocks opened 2 per cent lower on Monday with the rupee plunging to a new low of 78.28 per dollar.  

Dalal Street had a very bad start to the week on Monday morning as the market fell over 2.5 per cent, tracking global peers. Other factors responsible for such a fall include the US inflation print, which was released on Friday; stoking fears of more aggressive interest rate hikes by Federal Reserve as well as investors’ fear in anticipation of Indian inflation data, due today.