The benchmark equity indices ended Monday’s trading session in the negative territory. The NSE Nifty 50 dropped 90.65 points or 0.44% to settle at 22,122.05, while the BSE Sensex plunged 352.66 points or 0.48% to 72,790.14. Bank Nifty index ended lower by 235.25 points or 0.50% to settle at 46,576.50.
The broader indices ended in negative territory, with fall led by mid-cap and large-cap stocks. Energy and Auto stocks outperformed among the other sectoral indices while IT and Metal stocks shed.
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Larsen & Toubro, Power Grid Corp, Adani Enterprises, Tata Consumer Products, and SBI Life Insurance were the top gainers on the NSE Nifty 50, while the laggards includes Asian Paints, Apollo Hospitals, Hindalco Industries, Divis Lab, and Tech Mahindra.
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The Indian Volatility Index (India VIX) closed up by 4.19 %.
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“The market took a breather after the recent runup as investors’ focus shifted from earnings to economic triggers this week. The US and India GDP data, eurozone inflation, and US jobless claim data will be influential economic numbers for the central bank to take a call on interest rates, which will dictate market sentiment in the near term. The uncertainty over demand and high US inventory pushed oil prices down,” said Vinod Nair, Head of Research, Geojit Financial Services.
