Markets nursed mild losses after choppy trade

Mumbai: Equity indices nursed mild losses on Monday after choppy trade as investors pared positions in blue-chips amid a largely subdued trend in global markets. World markets were rattled after China intensified its regulatory crackdown on tech companies, while participants also awaited cues from the US Federal Reserve meeting later this week.

Snapping a two-session rally, the 30-share BSE Sensex ended 123.53 points or 0.23 per cent lower at 52,852.27. Similarly, the broader NSE Nifty slipped 31.60 points or 0.20 per cent to 15,824.45.

SBI was the top loser in the Sensex pack, shedding 1.36 per cent, followed by Reliance Industries, M&M, Tech Mahindra, L&T, Bharti Airtel, HDFC and IndusInd Bank.

On the other hand, Bajaj Finserv, UltraTech Cement, Sun Pharma, Titan and Tata Steel were among the major gainers, spurting up to 2.46 per cent.

Kotak Mahindra Bank climbed 1 per cent after the private sector lender reported a nearly 32 per cent jump in its net profit to Rs 1,641.92 crore in the first quarter of 2021-22.

Sector-wise, BSE energy, realty, power, auto and telecom indices tumbled as much as 1.09 per cent, while basic materials, consumer durables, healthcare and metal closed in the green.

In the broader markets, the BSE smallcap index rose 0.34 per cent, while the midcap gauge inched up 0.06 per cent.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended with significant losses, while Tokyo closed higher.

Meanwhile, international oil benchmark Brent crude declined 0.34 per cent to USD 73.85 per barrel.

The rupee closed 2 paise lower at 74.42 against the US dollar.