Stock markets, finished Monday’s session on a lower note amid volatility. BSE benchmark index Sensex closed 181.25 points lower at 34,134.38, while the NSE Nifty shed 58.30 points to settle at 10,245.25.
Top laggards on the 50-scrip index Nifty were Induslnd Bank, BPCL, Ultracemco, Reliance and Asian Paints, finishing between 6.96 per cent and 3.12 per cent lower compared to the previous session.
Except auto and financial services stocks, all the sectoral indices were trading in the red. Gains in financial services and auto stocks were offset by sharp losses in energy shares.
State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum ended 2.89 per cent, 4.51 per cent and 2.80 per cent lower respectively.
Amid stock-specific action, HDFC Bank shares rose 1.38 per cent after the private-sector lender posted a record quarterly profit on Saturday. Among other major private sector lenders, ICICI Bank and Yes Bank are set to report their quarterly results later this week.
The domestic markets tracked an upbeat mood in global markets, even as macro concerns continued to weigh on investors. Japan’s Nikkei rose 0.4 per cent.
Equity markets elsewhere in Asia also enjoyed healthy gains, as Chinese stocks swung higher for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit.
The Sensex had declined by 846 points, or 2.4 per cent, in the past two trading sessions, while the Nifty gave up 281 points, or 2.7 per cent.
The domestic markets have been battered by a series of issues, including higher crude prices, depreciating rupee and recent defaults at a major non-banking financial company (NBFC). Liquidity has also been facing a crunch, adding to woes.
Meanwhile, net sale of equities by foreign institutional investors (FIIs) stood at Rs. 618.26 crore on Friday, while domestic institutional investors (DIIs) offloaded shares to the tune of Rs. 2.14 crore, according to provisional data from the NSE.>