Falling for a third consecutive session, domestic stocks markets closed in the red on Monday. The S&P BSE’s benchmark index Sensex finished 156.28 points, or 0.43 per cent, lower at 35,853.56, while the NSE Nifty ended at 10,737.60, 57.35 points or 0.53 per cent lower from Friday’s close. Top drags on the Nifty50 were Wipro, GAIL, Indiabulls Housing Finance, Tech Mahindra, L&T closing between 4.93 per cent and 2.56 per cent lower. Thirty eight out of 50 stocks closed in the negative zone. L&T, IndusInd Bank, Vedanta, Power Grid Corporation were the major laggards on the 30-share Sensex.
Stock market movement will be driven by announcement of macroeconomic data and quarterly earnings of blue-chip companies this week, say analysts.
Wholesale inflation eased to an eight-month low of 3.80 per cent in December, according to government data. It will announce the Consumer Price Index (CPI) data later in the day.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 687.20 crore on Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 123.17 crore, provisional data available with NSE showed.
(With agency inputs)