The Sensex was down 0.56 per cent or 99.79 points and closed at 17,705.01 while the Nifty was also down 0.64 per cent or 34.10 points and closed at 5,326.60 on Monday.
“Today’s trade is merely about regular profit-booking and we have not been affected by the European bailout plan. Although the European markets are down, I don’t think there has been much impact on our markets,” said Mr Abhinav Angirish, Founder and CEO, Investor Online.
Hindustan Unilever Limited (HUL) reached a 52-week high in intra-day trade and was a top gainer (up 7.38 per cent).
HDFC Bank (up 1.36 per cent) and Hero MotoCorp Ltd (up 0.84 per cent) were the other top gainers. Hindalco Industries (down 4.11 per cent), Sterlite Industries (down 4.10 percent) and Tata Motors (down 3.76 percent) were the three top losers.
“This week the market could touch 18,000 points on the Bombay Stock Exchange (BSE). There was initial excitement about the European bailout plan but now people will get into the details closely,” said Mr Jagannadham Thunuguntla, Strategist and Head of Research, SMC Global Securities.
At the time of closing of the Indian markets, the European markets were all down by approximately two per cent each.