New Delhi, May 18 -- Indian markets opened in the red as benchmark equity indices registered sharp losses during the opening bell following weak global cues. The BSE SENSEX stood at 74,347.68 points, down 890.31 points or 1.18 per cent. The NSE NIFTY 50 stood at 23,414.20 points, losing 229.30 points or 0.97 per cent.

The downward trend remains visible across sectors. Nifty PSU Bank and Nifty Realty led losses with drops of 1.75 per cent to 7,886.45pts and 743.05pts, respectively. Nifty Consumer Durables fell 1.64 per cent to 34,973.90pts, and Nifty Financial Services 25/50 declined 1.37 per cent to stand at 27,304.65pts. Nifty Metal, Nifty Auto, and Nifty Private Bank witnessed drops of over one per cent.

Nifty Oil & Gas slid 0.79 per ...