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Sensex Trims Losses, Ends 85 Points Lower, Nifty Settles Below 17,100

Sensex and Nifty settled lower in a volatile trade today.
Sensex and Nifty settled lower in a volatile trade today.

Indian equity benchmarks closed weak but off their early lows on Monday. The domestic indices took cues from the global market, where sentiment was weak as investors cautiously awaited a rate hike by the Federal Reserve this week. The U.S. central bank is expected to aggressively hike rates by 50 basis points (bps) on Wednesday.

Back home, the 30-share BSE Sensex fell 85 points or 0.15 per cent to close at 56,976, while the broader NSE Nifty moved 33 points or 0.20 per cent lower to close at 17,069. Both the indexes tanked more than 1 per cent each during the intraday deals.

Mid- and small-cap shares ended on a negative note as Nifty Midcap 100 index shed 0.59 per cent and the small-cap tanked 1.34 per cent.

Seven of the 15 sector gauges -- compiled by the National Stock Exchange -- closed in the red. Sub-indexes Nifty Consumer Durables, Nifty IT and Nifty Auto underperformed the index by falling as much as 2.02 per cent, 1.53 per cent and 1.26 per cent, respectively.

On the stock-specific front, Eicher Motors was the top Nifty loser as the stock cracked 3.43 per cent to Rs 2,540. Apollo Hospitals, Titan, Bajaj Auto and Wipro were also among the laggards.

The overall market breadth stood weak as 1,244 shares advanced while 2,218 declined on BSE.

On the 30-share BSE index, Titan, Wipro, Tech Mahindra, Infosys, Maruti, Asian Paints, L&T, SBI and Kotak Mahindra Bank were among the top losers.

In contrast, IndusInd Bank, NTPC, PowerGrid, Tata Steel, ITC, HDFC twins (HDFC and HDFC Bank), UltraTech Cement, Bajaj Finserv, Nestle India and Bharti Airtel settled in the green.

Indian markets will remain shut on Tuesday due to Eid (Id-Ul-Fitr).