Benchmark indices fell for the third straight session on Monday and closed nearly 1 per cent lower amid weak trend in global equities. Sensex declined 518.64 points or 0.84 per cent to end at 61,144.84. During the day, the index tumbled 604.15 points or 0.97 per cent to 61,059.33. Nifty fell 147.70 points or 0.81 per cent to end at 18,159.95.
Reliance Industries (1.83%), HDFC (1.80%), Tata Consultancy Services (1.78%), Tech Mahindra (1.78%), Infosys (1.61%) and Bajaj Finance (1.56%) were the top Sensex losers.
Bharti Airtel (1.70%), Axis Bank (1.22%), IndusInd Bank (1.21%), Hindustan Unilever (0.76%) and Power Grid (0.39%) were among the top Sensex gainers.
Market cap of BSE-listed firms fell to Rs 280.91 lakh crore today against the market cap of Rs 282.30 lakh crore in the previous session.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "Weakness in Asian and European indices triggered a sell-off in domestic equities. Valuations too are looking stretched which is why local traders are using the opportunity to book some profits. Also, a few Fed officials have said that rate hikes will not stop till the inflation is under control, making investors nervous about the growth prospects going ahead. Technically, after a long time the index closed below 10 day SMA (Simple Moving Averages) and has also formed a bearish candle on daily charts which is largely negative. We expect 18,250 to act as a key resistance zone for the market and if the index slips below the same it could retest 18,050-18,000. On the flip side, above 18,250, the index could move up to 18400-18450. Contra traders can take bets near 18000 with a strict 17950 support stop loss".
Market breadth was negative with 1,510 shares closing higher against 2083 stocks falling on BSE. 179 shares were unchanged. IT, metal and oil and gas shares were the top losers with their BSE indices falling 435 points, 177 points and 145 points, respectively.
Foreign Institutional Investors (FIIs) offloaded shares worth Rs 751.20 crore on Friday, as per exchange data.
The Indian equity market ended lower for the second straight session on Friday, erasing initial gains amid a mixed trend in the global equities. Sensex declined 87.12 points or 0.14 per cent to 61,663.48. During the day, the 30 stock index fell 413.17 points or 0.66 per cent to 61,337.43. Nifty dipped 36.25 points or 0.20 per cent to end at 18,307.65.
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.
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