Mumbai: Equity benchmark indices Sensex and Nifty ended lower Monday, dragged by blue-chip HDFC Bank, Reliance Industries and IT stocks amid fresh warnings from the US to further raise tariffs against India.
The 30-share BSE Sensex dropped 322.39 points or 0.38 per cent to settle at 85,439.62. During the day, it tanked 446.68 points or 0.52 per cent to 85,315.33.
After hitting a record intra-day high of 26,373.20, the 50-share NSE Nifty failed to carry forward the momentum and declined 78.25 points or 0.30 per cent to end at 26,250.30.
From the 30-Sensex firms, HDFC Bank, Infosys, HCL Tech, Bajaj Finance, Tata Consultancy Services and Reliance Industries were among the biggest laggards.
In contrast, Bharat Electronics, Hindustan Unilever, Tata Steel and UltraTech Cement were among the gainers.
“The benchmark Nifty index scaled a new lifetime high of 26,373.20 during the session; however, profit-taking emerged near the top, dragging the index lower to test the crucial 26,200 support zone by the close.
“Market sentiment remained guarded, with participants staying largely on the sidelines amid escalating geopolitical tensions following the US attack on Venezuela over the weekend,” according to Ashika Institutional Equities.
Foreign Institutional Investors (FIIs) bought equities worth Rs 289.80 crore Friday, according to exchange data. Domestic institutional investors (DIIs) also bought stocks worth Rs 677.38 crore.
“President Donald Trump’s renewed remarks on potential tariff hikes against Indian imports linked to India’s continued purchases of Russian oil added a layer of geopolitical caution to global markets, keeping risk appetite in check during today’s session,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
In Asian markets, South Korea’s Kospi index, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index ended significantly higher, while Hong Kong’s Hang Seng index ended marginally up.
Markets in Europe were trading in the green. US markets ended mostly in positive territory Friday.
Brent crude, the global oil benchmark, dipped 0.13 per cent to USD 60.67 per barrel.
On Friday, the Sensex climbed 573.41 points or 0.67 per cent to settle at 85,762.01. The Nifty went up by 182 points or 0.70 per cent to 26,328.55.
PTI