Mumbai: Benchmark indices Sensex and Nifty fell on Monday due to selling in IT and FMCG shares and a weak trend in global markets after US President Donald Trump announced an additional 100 per cent tariff on Chinese goods from November 1.
The 30-share BSE Sensex dropped 173.77 points or 0.21 per cent to settle at 82,327.05, snapping its two-day rally. After a gap-down opening, it tanked 457.68 points or 0.55 per cent to a low of 82,043.14.
However, resilience in banking and financial majors helped limit the downside in the second half.
The 50-share NSE Nifty declined 58 points or 0.23 per cent to 25,227.35 as 30 of its constituents closed lower, 19 with gains and one unchanged.
Among Sensex firms, Tata Motors fell the most by 2.67 per cent a day ahead of the record date for determining shareholders’ eligibility for receiving shares in the demerged commercial vehicle business.
Infosys, Hindustan Unilever, Power Grid, Bharat Electronics, ITC, UltraTech Cement and Tata Consultancy Services were also among the laggards.
However, Adani Ports, Bajaj Finance, Bajaj Finserv and Axis Bank were among the gainers.
The BSE smallcap gauge declined 0.43 per cent, and the midcap dipped 0.18 per cent.
IT tanked 0.90 per cent, followed by capital goods (0.85 per cent), FMCG (0.83 per cent), BSE Focused IT (0.82 per cent) and telecommunication (0.66 per cent). Financial Services, utilities, bankex, services, power and realty were the gainers.
As many as 2,627 stocks declined while 1,664 advanced and 168 remained unchanged on the BSE.
The rupee appreciated by 4 paise to close at 88.68 against the US dollar on Monday, supported by suspected RBI intervention and fresh foreign fund inflows.
Global oil benchmark Brent crude jumped 1.77 per cent to $63.84 a barrel.
FIIs bought equities worth Rs 459.20 crore on Friday, according to exchange data.