Stock Market Highlights: Nifty, Sensex Close Lower As RIL, L&T Drag
Eleven out of the 12 sectors on the NSE declined, with the Nifty Realty and Oil & Gas falling the most.
The benchmark equity indices ended in the red on Monday, with the realty, and oil and gas sectors declining the most.
The NSE Nifty 50 snapped three sessions of gains and 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.
"Technically, after an early morning intraday rally, the market consistently faced selling pressure at higher levels," Shrikant Chouhan, head of equity research at Kotak Securities, said.
Reliance Industries Ltd., Larsen & Toubro Ltd., Trent Ltd., Oil & Natural Gas Corp. and Mahindra & Mahindra Ltd. weighed on the Nifty the most.
Shares of Infosys Ltd., Hindustan Unilever Ltd., Power Grid Corp., ITC Ltd. and Nestle India Ltd. cushioned the fall in the Nifty the most.
Eleven out of the 12 sectors on the NSE declined, with the Nifty Realty and Oil & Gas falling the most. The Nifty Auto snapped a three-session winning streak, falling nearly 1.22% following BofA's cut in target price for major auto players.
Nineteen out of the 21 sectors on the BSE declined, with Industrial falling the most.
The broader markets underperformed, with the BSE MidCap ending 1.46% down and the SmallCap falling 2.11%.
The market breadth was skewed in favour of sellers as 2,875 stocks declined, 1,206 advanced and 148 remained unchanged on the BSE.
