MUMBAI, Dec 9: The equity market benchmarks, Sensex and Nifty, witnessed a decline on Monday, influenced by profit-taking in major stocks like Reliance Industries, Hindustan Unilever, and Axis Bank, amidst a mixed global outlook.
After fluctuating throughout the session, the 30-share BSE Sensex dropped by 200.66 points or 0.25 percent, concluding at 81,508.46. The index recorded a range from a peak of 81,783.28 to a low of 81,411.55 during the day.
The NSE Nifty decreased by 58.80 points or 0.24 percent, closing at 24,619.
Among the 30 shares, key underperformers included Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank, and State Bank of India.
In contrast, stocks such as Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel, and PowerGrid saw gains.
“The markets experienced a range-bound trading day, mostly drifting in negative terrain due to a lack of investor enthusiasm following last week’s rally,” noted Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
Asian markets displayed mixed results, with Seoul and Shanghai closing lower, whereas Tokyo and Hong Kong finished in positive territory.
European indices were trading higher, and US markets wrapped up on a positive note last Friday.
The global oil benchmark, Brent crude, climbed by 0.89 percent to USD 71.75 per barrel.
Foreign Institutional Investors (FIIs) shifted to selling on Friday after three consecutive sessions of being net buyers, disposing of equities worth Rs 1,830.31 crore, according to exchange data.
On the preceding Friday, the 30-share BSE Sensex had decreased by 56.74 points or 0.07 percent, settling at 81,709.12, while the NSE Nifty fell by 30.60 points, establishing a final position at 24,677.80. (PTI)
