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Highlights of actions / actions: The BSE and National Stock Exchange (NSE) frontline stock indexes ended down around 1% on Monday, following weakness in the global market.
The S&P BSE Sensex fell 524.96 points (0.89%) to 58,490.93, while the Nifty 50 finished at 17,396.90, down 188.25 points (1. 07%). Both indices had opened in the red but initially retreated in morning trade. However, as trade progressed, benchmarks slipped in afternoon trading amid a massive sell-off in metals, banking and auto stocks.
Tata Steel was the worst performer in the Sensex pack with 9.5% slippage on Monday. It was followed by the State Bank of India (SBI), IndusInd Bank, Housing Development Finance Corporation (HDFC), Dr. Reddy’s Laboratories and Mahindra & Mahindra (M&M). On the other hand, Hindustan Univeler (HUL), Bajaj Finserv, ITC, HCL Technologies and Nestlé India were the main winners on Monday.
Among sector indices, the Nifty Metal index fell by 6.60%, led by Tata Steel, Jindal Steel & Power and National Aluminum Company. Apart from that, the Nifty Bank key fell 1.76 percent, weighted by Federal Bank, Punjab National Bank, and RBL Bank. The Nifty Auto index also fell 1.44% thanks to Tata Motors, Bharat Forge and Eicher Motors. On the other hand, the Nifty FMCG Index, which was the lone winner of the day, climbed 0.91 percent, led by HUL, Marico and ITC.
In the broader market, the S&P BSE MidCap finished at 24,598.51, down 447.97 points (1.79%) while the S&P BSE SmallCap came in at 27,490.27, down of 516.52 points (1.84%).
(with contributions from agencies)