The market started off on a positive note, drifted down into negative territory around mid morning, and then, after moving in a tight range till around mid afternoon, declined sharply and ended the session with notable losses on Monday.
Besides weak global markets, profit taking and caution ahead of the reporting season contributed to the market's decline.
The BSE benchmark Sensex, which tumbled to 19,654.46, losing more than 200 points from the day's high, ended the session with a loss of 92.66 points or 0.47% at 19,691.42. The broader 50-stock Nifty indrx of the National Stock Exchange closed at 5988.40, down 27.75 points or 0.46% from its previous closing mark.
Capital goods stocks ended on a weak note. FMCG, consumer durables, realty and bank stocks too mostly closed lower. Power stocks ended on a mixed note. Information technology and oil stocks ended off their highs. Metal stocks had a good outing. A few stocks from healthcare and automobile sectors too saw some hectic buying during the session.
Larsen & Toubro, Jaiprakash Associates
, Hindustan Unilever
lost 2% - 2.6%. HDFC Bank
, GAIL India
, Ambuja Cements
, Tata Power
, Reliance Industries
, HCL Technologies
, Coal India
, Bank of Baroda
closed lower by 1% - 1.6%.
BPCL ended 3.3% up. Hindustan Petroleum Corporation
and Indian Oil Corporation
also ended with strong gains. Maruti Suzuki
, Cairn India
, Sun Pharmaceutical
Industries, Mahindra & Mahindra
and Tata Steel
gained 1% - 2.5%. Reliance Infrastructure
and Hero Motocorp also closed on a firm note.
Punjab National Bank, ING Vysya Bank
, Petronet LNG
, Havells India
, Suzlon Energy
The market breadth was positive. Out of 3066 stocks traded on BSE, 1617 stocks moved up. 1318 stocks declined and 131 stocks ended flat.