The stock markets closed on a negative note on Monday with both Indian benchmark indices closing in the red.

The Nifty was down 1.71 per cent to close at 5,201, losing 91 points while the Sensex fell by 1.60 per cent or 277 points and closed at 17,097.

All sectoral indices closed in the red and realty, tech, IT and metal stocks were the worst hit.

“It was a bad day for IT stocks which suffered a 2-3 per cent cut and dragged the broader Nifty and Sensex down. Other rate sensitive sectors such as capital goods and realty also suffered because of profit booking as after the RBI lowered interest rates these sectors had seen heavy buying,” said Ms Shanu Goel, Senior Research Analyst, Bonanza Portfolio.

“Overall market sentiments were also down because of European markets opening with a cut of over one per cent today,” she added.

Volatility was up, with the India Vix closing up almost 7.36 per cent at 21.57.

Sun Pharma, ACC, Reliance, NTPC and ITC were the top Nifty gainers while Rpower, Rcom, Reliance Infra, Jindal Steel and Hindalco were the losers on the Nifty.

Related Topics