The Indian stock market ended lower on Monday, extending losses to a third successive session, with investors pressing sales at several counters amid weak global markets and caution ahead of some key economic data and quarterly results from technology major Infosys.
The BSE benchmark Sensex ended down 130.87 points or 0.44% at 29,575.74, after scaling a high of 29,831.32 and a low of 29,553.04 intraday. The Nifty50 of the National Stock Exchange, which declined to a low of 9174.85 after having advanced to 9225.65 early on in the session, ended at 9181.45, recording a loss of 16.85 points or 0.18%.
In the forex market, the rupee was trading at 64.48 against the U.S. dollar around late afternoon, down 20 paise from its previous close of 64.28.
The relatively better performance of the Nifty50 was due largely to strong gains posted by some non-Sensex stocks, including Indian Oil Corporation (3.5%), BPCL (3.3%), Grasim Industries (3.2%), Yes Bank (3%), Bharti Infratel (2.5%) and Tata Motors DVR (2.1%). Bank of Baroda and IndusInd Bank also closed with impressive gains.
Adani Ports, Tata Motors and Axis Bank - these stocks gained 1.2% - 1.7% - were the prominent gainers in the Sensex.
Coal India, Hindalco, Zee Entertainment Enterprises, Ambuja Cements, Tata Steel, Kotak Bank, Lupin and Sun Pharmaceutical Industries posted modest gains.
IT major Infosys declined more than 3% ahead of results. HCL Technologies, Wipro, Tata Consultancy Services, Oracle Financial Services and KPIT also ended notably lower. NIIT Technologies ended more than 5% down, while Tech Mahindra declined marginally.
Asian Paints and Indiabulls Housing Finance ended lower by 2.2% and 2.1%, respectively. Reliance Industries, HDFC, Eicher Motors, Dr Reddy's Laboratories, NTPC, UltraTech Cement, Bosch, Tata Power and Larsen & Toubro lost 0.5% - 1.5%.
Shares of distilleries companies declined sharply after Madhya Pradesh Chief Minister Shivraj Singh Chouhan announced that all liquor shops would be closed across the state in a phased manner. United Spirits, Globus Spirits, Pioneer Distilleries, Radico Khaitan, United Breweries and Tilaknagar Industries and GM Breweries lost 3% - 8%.
Airlines stock Interglobe Aviation rallied sharply on huge volumes. Welspun India moved up on rating upgrade by a foreign brokerage. Divi's Laboratories saw some strong buying after the USFDA exempted a few more druge from the Import Alert list it had released last month.
The market breadth was strong. Out of 3069 stocks traded on BSE, 1757 stocks advanced. 1144 stocks declined and 168 stocks ended flat.
