Mumbai: Equity benchmark indices Sensex and Nifty nosedived on Monday after two consecutive days of gains, as investors rushed to take profits amid the unabated selling of stocks by foreign investors.
Analysts said investors turned defensive ahead of this week’s US Federal Reserve policy decision, which further weakened the sentiment.
The 30-share BSE Sensex plunged by 609.68 points, or 0.71 per cent, to close at 85,102.69. During the day, it plummeted by 836.78 points, or 0.97 per cent, to hit the intraday low of 84,875.59.
Snapping a two-day gaining streak, the 50-share NSE Nifty declined by 225.90 points, or 0.86 per cent, to settle at 25,960.55. In the intraday session, it dropped 294.2 points, or 1.12 per cent, to hit a low of 25,892.25.
The market capitalisation of BSE-listed firms eroded by Rs 7,12,514.68 crore to Rs 4,64,19,108.91 ($5.15 trillion).
Among the Sensex constituents, Bharat Electronics Ltd, Eternal, Trent, Tata Steel, Bajaj Finance, Adani Ports, Bajaj Finserv, State Bank of India, PowerGrid, Asian Paints, Tata Motors Passenger Vehicles, Titan, NTPC, Kotak Mahindra Bank, Larsen & Toubro and Bharti Airtel were among the laggards. Tech Mahindra, HCL Technologies, Reliance Industries and HDFC Bank were the only gainers.
The BSE midcap gauge declined 1.73 per cent, while smallcap index dropped 2.20 per cent.
Among sectoral indices, Services tumbled by 3.70 per cent, Realty by 3.50 per cent, Capital Goods by 2.83 per cent, Telecommunication by 2.53 per cent, Industrials by 2.21 per cent, Utilities by 2.10 per cent, Metal by 1.96 per cent, and Power by 1.84 per cent.
As many as 3,348 stocks declined, while 950 advanced and 187 remain unchanged on the BSE.
Meanwhile, FIIs offloaded equities worth Rs 438.90 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 4,189.17 crore, according to exchange data.