Shares of Power Grid Corp. and Hindustan Unilever Ltd. were the top gainers on Monday, while Oil & Natural Gas Corp. and Trent Ltd. were the top laggards on the NSE Nifty 50.
The NSE Nifty 50 ended 92.20 points, or 0.41% lower at 22,460.30, while the BSE Sensex closed 217.41 points, or 0.29% down at 74,115.17.
Power Grid gained as much as 4.16% during the day and closed 3.02% higher at Rs 271.3 apiece.
HUL's share price rose 2.85% to Rs 2,267.4 apiece before paring gains to trade at 1.96% higher at market close. Staples and consumption-linked stocks rose after Finance Minister Nirmala Sitharaman said the country is close to reducing its goods and services tax rates.
Other notable gainers on the benchmark were Infosys Ltd., SBI Life Insurance Corp. and Nestle India Ltd.
On the other hand, shares of Oil & Natural Gas Corp declined 4.12% to trade at Rs 223.19, alongside other oil marketing companies. No additional LPG compensation was announced in the second supplementary demand tabled in Parliament. The total OMC LPG subsidy compensation stood at Rs 28,080 crore.
Trent's share price also declined over 4% to trade at Rs 328 apiece.
Shares of IndusInd Bank Ltd. closed 3.7% lower after the Reserve Bank of India extended the tenure of Chief Executive Officer Sumant Kapthalia by one year, against the lender's request for three.
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