The BSE Sensex and NSE Nifty, key Indian equity indices, traded on a negative note on Monday morning, weighed down by heavy selling in banking and finance stocks. The BSE Sensex fell below the psychological 38,000-mark.

At 10.32 am, it was trading at 37,960.78, lower by 168.12 points or 0.44% from its previous close of 38,128.90.

It opened at 38,275.34 and touched an intra-day high of 38,275.34 and a low of 37,769.44.

The Nifty50 on the National Stock Exchange was trading at 11,146.40, lower by 47.75 points or 0.43% from its previous close.

Among the stocks, Reliance Industries continued its bull run to hit a fresh high of Rs 2,198.70 on Monday.

Currently, it's trading at Rs 2,165.70 on the BSE, higher by Rs 19.50 or 0.91% from its previous close.

The rupee appreciated by 14 paise to 74.69 against the US dollar in early trade on Monday, tracking positive Asian peers.

After opening on a strong note, the Indian currency went on to further strengthen its position and touched 74.69 against the US dollar, up 14 paise over its previous close.

It had settled at 74.83 against the greenback in the previous session on Friday.

Forex dealers said stronger Asian currencies against the US dollar this morning helped the rupee bolster sentiment.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.51% to 93.95.

With PTI and IANS inputs