Metal stocks saw selling pressure for a seventh straight session on Monday.
- Major gainers in the Sensex pack were ICICI Bank, Tata Motors, Bajaj Auto, Maruti, NTPC and Induslnd Bank while losers were Vedanta Limited, Kotak Mahindra Bank, Bharti Airtel, Coal India, Axis Bank and Tata Steel.
- Hindustan Petroleum, ICICI Bank, Indian Oil, Dr Reddy and BPCL were leading the pack of Nifty gainers.
- The main losers on NSE were Hindalco, Vedanta Limited, Bharti Airtel, Kotak Mahindra Bank and Bajaj Finance Bank.
- Metal stocks saw selling pressure for a seventh straight session, with the Nifty metal index skidding over 2.5 per cent.
- Vedanta Ltd dropped as much as 3 per cent on both domestic index. Pharma stocks took a breather, with the Nifty pharma index down over 1 per cent, on track to halt an eight-day winning streak.
- Financials such as Kotak Mahindra Bank Ltd and HDFC Bank Ltd fell over 1 per cent each and were among the biggest drags on the NSE index.
- ICICI Bank Ltd, however, jumped near 4 per cent after a media reported that the country's second largest private sector lender was looking to name Sandeep Bakhshi as its interim chief executive.
- Shares of top oil marketing companies such as Hindustan Petroleum Corp Ltd, Indian Oil Corp Ltd and Bharat Petroleum Corporation Ltd gained over 3.5 per cent each.
- Asian shares fell after US President Donald Trump slapped a 25 per cent tariff on $ 50 billion worth of Chinese goods. Trump accused Beijing of intellectual property theft and unfair trade practices, triggering a full-fledged trade war between the world's two largest economies. Reacting to Trump's latest announcement, China said it has imposed "equal" tariffs on US products.
- Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,524.74 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 561.01 crore on Friday, provisional data showed. (With inputs from Agencies)
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