Mumbai: Equities remained under pressure for the second session running on Monday as investors stayed on the sidelines ahead of a crucial meeting of the US Federal Reserve this week where it is expected to go for an aggressive rate hike to tame runaway inflation.
A weak rupee and persistent foreign fund outflows further weighed on bourses, though encouraging domestic macroeconomic data like all-time high GST collections and strong manufacturing PMI cushioned the fall.
After plunging over 600 points in intra-day trade, the 30-share BSE Sensex recouped most losses to end 84.88 points or 0.15 per cent lower at 56,975.99.
On similar lines, the broader NSE Nifty shed 33.45 points or 0.20 per cent to close at 17,069.10.
Titan was the biggest laggard in the Sensex pack, tumbling 2.95 per cent, followed by Wipro, Tech Mahindra, Infosys, Asian Paints, Maruti, SBI and Kotak Bank.
In contrast, IndusInd Bank, NTPC, PowerGrid, Tata Steel, HDFC and ITC were among the prominent gainers, jumping as much as 4.17 per cent.
HDFC advanced 1.55 per cent after the country's largest mortgage lender reported a 16 per cent rise in standalone net profit to Rs 3,700 crore for the March 2022 quarter. HDFC Bank too rose 1.33 per cent.
The market breadth was negative, with 19 declines and 11 advances.
Meanwhile, international oil benchmark Brent crude declined 2.61 per cent to $104.3 per barrel.
The rupee pared initial gains to settle almost flat at 76.51 per US dollar on Monday as subdued domestic equities offset the impact of a sharp decline in global crude
oil prices.