Hindalco, Max Healthcare and Kotak Bank Slip Early

The market has started the day on the back foot, with the Sensex down about 531 points (0.72%) at 73,364.71 as of 9:18 AM and the Nifty dipping below the 23,000 mark. Rising crude prices and rate-hike worries are keeping sentiment weak, and a few names are feeling the pressure more than others. Weakest names:

Max Healthcare Institute and Kotak Mahindra Bank were the top losers on the Nifty50 in early trade. Private banks under pressure: Nifty Private Bank was the worst-performing sector, in line with Kotak Bank's weakness. Metals losing steam: Hindalco's slide suggests profit-booking in a sector that had been strong recently. IT the relative safe spot: Nifty IT fell the least among sectors, a change from its recent role as the market's laggard.