The Sensex and Nifty closed on a negative note on the first trading day of 2018 on heavy selling in auto and banking stocks. Selling in the last hour of trade led the indexes lower with top gainers in the last few days losing the most on the bourses.
While the Sensex ended 244 points lower at 33,812 level, the Nifty fell 95 points to 10,435 level.
Auto stocks on the BSE or the BSE Auto index closed 208 points lower on a day when firms announce their December sales.
Maruti Suzuki which reported a 10.3 per cent increase in total sales at 1,30,066 units in December 2017 compared to 1,17,908 units in the same month of 2016, closed 0.68 percent lower to 9665 points on the BSE.
BSE Bankex too fell 217 points with IndusInd Bank, ICICI Bank and PNB falling over 1 percent each.
On the Sensex, TCS (1.69%), IndusInd Bank (1.45%) and Hindustan Unilever 1.40 % were the top losers. Coal India (1.44%), Wipro (1.39%) and Sun Pharma (0.49%) were the top Sensex gainers.
Market breadth was positive with 1634 stocks closing higher against 1232 stocks closing lower on BSE.
The Reliance Naval stock from the ADAG Group of shares soared in Monday's trade.
Reliance Naval and Engineering Limited, formerly Reliance Defence and Engineering Limited, closed 38.68% or 19 points higher to 68.30 on the BSE.
The Reliance Naval stock has gained 23.93% or 13 points in the last one year.
The Sensex gained 28 percent or 7,430 points this year. The Nifty rose 28.62% or 2342 points since the beginning of this year.
In Asia, major indices ended higher with double digit gains in the range of 19% to 36%. Only China's Shanghai Composite index ended with single digit gains of around 6.6%.
Indices in Europe ended 7.6-12.5% higher while those in US ended 19-28% higher.
Commodities ended 2017 with a bang in longest rally on record: Copper prices gained 33%; Aluminum gained 32%; Zinc prices ended 29% higher; Gold prices ended 15% higher posting its second annual gain.