Markets sink for 3rd day as Sensex falls 519 points, Nifty below 18,160
Rupee depreciates by 5 paise to 81.79 against dollar;
Mumbai: Market benchmarks fell for the third day running on Monday and ended nearly 1 per cent lower amid weak trend in global equities.
The 30-share BSE Sensex declined 518.64 points or 0.84 per cent to settle at 61,144.84. During the day, it tumbled 604.15 points or 0.97 per cent to 61,059.33. The broader NSE Nifty fell 147.70 points or 0.81 per cent to end at 18,159.95.
From the Sensex pack, Reliance Industries, HDFC, Tata Consultancy Services, Tech Mahindra, Infosys, Bajaj Finance, Wipro and Tata Steel were the major laggards.
Bharti Airtel, Axis Bank, IndusInd Bank, Hindustan Unilever and Power Grid were among the winners.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended lower, while Tokyo settled higher.
Equity exchanges in Europe were trading in the negative territory in the afternoon trade. Wall Street had ended higher on Friday.
International oil benchmark Brent crude was trading 0.91 per cent lower at $ 86.82 per barrel.
Foreign Institutional Investors (FIIs) offloaded shares worth Rs 751.20 crore on Friday, as per exchange data.
In the broader market, the BSE midcap gauge dipped 0.15 per cent and smallcap index climbed marginally by 0.01 per cent.
Among sectoral indices, IT fell 1.46 per cent, power 1.42 per cent, utilities 1.41 per cent, realty 1.38 per cent, teck 1.04 per cent, and metal 0.89 per cent. Telecommunications and consumer durables were the only winners.
"Indian equities witnessed selling pressure on the first day of the week on the back of weak global cues. Global sentiments were impacted after China reported surge in Covid cases leading to concerns over economic growth outlook.
"Investors were cautious ahead of the US Fed minutes, which would give insights into the central bank's future rate hike stance given the softening inflation," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
The rupee depreciated 5 paise to close at 81.79 against the US dollar on Monday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities. On Friday, the rupee depreciated 10 paise to close at 81.74 against the US currency.