Benchmark stock indices Sensex and Nifty declined on Monday amid last-minute selling by cautious investors and lack of any major triggers.
Photograph: Danish Siddiqui/Reuters
Paring early gains, the 30-share BSE Sensex declined by 331.21 points or 0.39 per cent to settle at 84,900.71.
During the day, it dropped 521.81 points or 0.61 per cent to 84,710.11.
The 50-share NSE Nifty fell by 108.65 points or 0.42 per cent to 25,959.50.
Among Sensex firms, Bharat Electronics, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Bajaj Finserv and Tata Motors Passenger Vehicles were the major laggards.
However, Tech Mahindra, Asian Paints, Infosys, Adani Ports, Sun Pharma and HDFC Bank were the gainers.
In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled in positive territory while South Korea’s Kospi ended lower. Equity markets in Japan were closed for a holiday.
“After a range-bound positive session, the market closed with a decline in the last half hour, led by Monday expiry, as Nifty-50 indices could not survive above the key threshold of 26,000.
“Investor sentiment remained cautious, in anticipation of key event risk like delays in finalising the interim US-India trade agreement.
“Nonetheless, selective buying in IT stocks offered some support. On a brighter note, global markets remain optimistic, fueled by renewed expectations of a December Fed rate cut, prompted by downside risks to US employment data,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign institutional investors (FIIs) offloaded equities worth Rs 1,766.05 crore on Friday, however, Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,161.61 crore, according to exchange data.
Brent crude, the global oil benchmark, dipped 0.98 per cent to $61.95 per barrel.
