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Indian equities ended lower for the third straight day as heavyweight Reliance Industries and technology stocks underperformed.
The S&P BSE Sensex ended 1.1% lower at 48,347 while the NSE Nifty 50 index fell 0.9% to end at 14,238.
Reliance Industries was the biggest contributor to the decline in the benchmark indices, ending 5.6% lower. This was the biggest single-day fall seen in the stock in nearly three months.
Among sectoral indices, technology shares were the biggest laggards in today's session. The Nifty I.T. index ended 1.8% lower while the PSU Bank index, Auto index and the Realty index fell 0.8% each.
Nifty Pharma outperformed in today's session, ending 1.7% higher, mainly led by gains in Aurobindo Pharma, which closed at a record high.
Broader markets moved in-line with the benchmark indices. The Midcap index fell 0.9% while the Smallcap index declined 1.2% in today's session.
The India Volatility Index rose 3.7% to end at 23.25.
1,404 stocks on the NSE ended with losses while 519 stocks bucked the trend to end higher.
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Indian equities have begun the truncated F&O series expiry week on a positive note, as earnings will remain in focus ahead of the Union Budget on February 1.
The S&P BSE Sensex opened 0.8% higher at 49,253 while the NSE Nifty 50 index gained 0.7% at the start of trade to open at 14,477.
The Sensex snapped its longest run of weekly gains since 2009 on Friday after the biggest single-day drop in a month.
All sectoral indices have opened higher in today's session. The Nifty Bank index is up 350 points or 1.1%, as is the Nifty Media index.
The Nifty Auto and Nifty Metal indices have gained 1.4% each while the PSU Bank index has gained 1% in the early minutes of trade.
Broader markets too have opened higher in today's session. The Nifty Midcap index is up 1.1% while the Smallcap index has gained 0.9%.
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