TNI Bureau: The 30-share BSE Sensex index was down 288.8 points to 57,138.12 in early trade, and the broader NSE Nifty-50 index declined 79.4 points to 17,014.95.

That comes after both benchmarks surged on Friday after the Reserve Bank of India hiked interest rates to a three-year high and reassured the country’s economic growth was better placed than peers.

The MSCI index of Asia-Pacific shares outside of Japan was down 0.43 per cent on the opening trading day of the quarter, on pace to fall for a fourth straight day.