Sensex and Nifty retreated on Monday after a sharp rise in previous two sessions.
New Delhi:
The Indian equity benchmarks plunged on Monday, halting a sharp two-day rally as the continued conflict in Ukraine pushed oil prices higher. Crude prices surged above $110 a barrel mark, fanning fears of higher inflation.
The 30-share BSE Sensex slipped 571 points or 0.99 per cent to close at 57,292, while the broader NSE Nifty moved 169 points or 0.98 per cent lower to settle at 17,118. Both the indexes had rallied more than 3.50 per cent each in the previous two sessions.
Mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index fell 0.28 per cent and small-cap shares rose 0.23 per cent.
In today’s session, gains witnessed in the metal stocks were offset by losses in the bank and consumer goods stocks.
12 out of the 15 sector gauges — compiled by the National Stock Exchange — ended in the red. Nifty Bank and Nifty FMCG underperformed the index by falling as much as 1.13 per cent and 1.72 per cent, respectively. However, Nifty Metal surged as much as 1.50 per cent.
On the stock-specific front, Britannia was the top Nifty loser as the stock cracked 3.46 per cent to Rs 3,240. Grasim, Tata Consumer Products, Shree Cement and SBI Life were also among the laggards.
The overall market breadth stood weak as 1,561 shares advanced while 1,963 declined on BSE.
On the 30-share BSE index, PowerGrid, Asian Paints, UltraTech Cement, Nestle India, Hindustan Unilever, HCL Tech, SBI and Bharti Airtel were among the top losers.
In contrast, Sun Pharma, HDFC Bank, Maruti Suzuki India, Titan and NTPC settled in the green.
