ETMarkets.comBenchmark equity indices closed in the red on Monday following volatile trade due to extended foreign investor selling and higher oil prices.
Mixed global cues forced indices to reverse earlier gains of the day. Banking and financial stocks were a drag so much so that better-than-expected earnings from were offset.
The BSE Sensex index ended 168 points or 0.28% lower at 60,093, while Nifty50 fell 62 points or 0.34% to settle at 17,895.
From the Sensex pack, , and were the top laggards, falling about 1-2%. M&M, , HDFC Bank, , and also closed with losses.
On the other hand, , , , , and settled with gains.
Sector-wise, Nifty Metal fell 1.32% and Nifty Financial Services 0.76% while FMCG, IT and PSU bank stocks closed higher. In the broader market, Nifty Midcap50 dropped 0.46% and Smallcap50 0.06%.
In the event of subdued Q3 results, soft Budget expectations and cliffing of global rates, the market is contemplating high volatility as these scenarios envelop the future trend, said Vinod Nair, Head of Research at Geojit Financial Services.
The market capitalisation of all listed companies on the BSE declined Rs 58,033 crore to Rs 280.68 lakh crore.
Global Markets
Asian shares firmed up on Monday as optimism about China's reopening offset concerns that the Bank of Japan (BOJ) might temper its super-sized stimulus policy at a pivotal meeting this week. A holiday in the US markets made for thin trading.
Japan's Nikkei slipped 1.14% to a two-week low, while the Shanghai Composite Index added 1%. And European shares opened positively with the STOXX 600 up 0.1%, driven by healthcare stocks, which gained 0.6%.
Currency Watch
The rupee weakened against the US currency on Monday, tracking a fall in the Chinese yuan, with traders citing heavy dollar buying from state-run banks. The rupee finished the session at 81.6125 per dollar, 0.35% lower than its previous close of 81.3250.
Crude Impact
Crude oil futures on Monday declined 0.14% to Rs 6,453 per barrel as participants trimmed their positions on low demand. Globally, West Texas Intermediate crude oil was trading 0.75% lower at $79.26 per barrel, and Brent crude was down 0.86% to $84.55 per barrel in New York.
(With inputs from agencies)
Mixed global cues forced indices to reverse earlier gains of the day. Banking and financial stocks were a drag so much so that better-than-expected earnings from were offset.
The BSE Sensex index ended 168 points or 0.28% lower at 60,093, while Nifty50 fell 62 points or 0.34% to settle at 17,895.
From the Sensex pack, , and were the top laggards, falling about 1-2%. M&M, , HDFC Bank, , and also closed with losses.
On the other hand, , , , , and settled with gains.
Sector-wise, Nifty Metal fell 1.32% and Nifty Financial Services 0.76% while FMCG, IT and PSU bank stocks closed higher. In the broader market, Nifty Midcap50 dropped 0.46% and Smallcap50 0.06%.
In the event of subdued Q3 results, soft Budget expectations and cliffing of global rates, the market is contemplating high volatility as these scenarios envelop the future trend, said Vinod Nair, Head of Research at Geojit Financial Services.
The market capitalisation of all listed companies on the BSE declined Rs 58,033 crore to Rs 280.68 lakh crore.
Global Markets
Asian shares firmed up on Monday as optimism about China's reopening offset concerns that the Bank of Japan (BOJ) might temper its super-sized stimulus policy at a pivotal meeting this week. A holiday in the US markets made for thin trading.
Japan's Nikkei slipped 1.14% to a two-week low, while the Shanghai Composite Index added 1%. And European shares opened positively with the STOXX 600 up 0.1%, driven by healthcare stocks, which gained 0.6%.
Currency Watch
The rupee weakened against the US currency on Monday, tracking a fall in the Chinese yuan, with traders citing heavy dollar buying from state-run banks. The rupee finished the session at 81.6125 per dollar, 0.35% lower than its previous close of 81.3250.
Crude Impact
Crude oil futures on Monday declined 0.14% to Rs 6,453 per barrel as participants trimmed their positions on low demand. Globally, West Texas Intermediate crude oil was trading 0.75% lower at $79.26 per barrel, and Brent crude was down 0.86% to $84.55 per barrel in New York.
(With inputs from agencies)
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