MUMBAI, India — Domestic equity benchmarks closed slightly lower on Monday as investors grew cautious ahead of this week’s Reserve Bank of India Monetary Policy Committee meeting and booked profits in select heavyweight stocks.
The Sensex ended at 85,641.90, down 64.77 points, or 0.08 per cent. The index opened higher at 86,065.92 compared with the previous close of 85,706.67 but failed to sustain its early gains as sentiment turned subdued. The Nifty finished at 26,175.75, slipping 27.20 points, or 0.10 per cent.
Analysts said the market moved into a range-bound phase after touching fresh highs, as expectations of an RBI rate cut diminished following stronger-than-expected second-quarter GDP growth and a sharp depreciation of the rupee. Investor sentiment was also tempered by muted GST collections in November, attributed to lower tax rates.
The auto index outperformed, supported by strong November sales driven by GST rationalization, moderate inflation, and solid wedding-season demand, analysts added.
Among Sensex components, Bajaj Finance, Sun Pharma, Trent, Mahindra & Mahindra, SBI, Bharti Airtel, Bajaj Finserv, HDFC Bank, and Axis Bank ended lower. Gainers included Tata Motors PV, Maruti Suzuki, BEL, Kotak Bank, Adani Ports, HCL Tech, Tech Mahindra, Eternal, and NTPC.
Sectoral performance was mixed. Nifty FMCG declined 95 points, or 0.17 per cent; Nifty Bank fell 71 points, or 0.12 per cent; and Nifty Financial Services slipped 75 points, or 0.27 per cent. Nifty Auto advanced 218.40 points, or 0.25 per cent, while Nifty IT rose 144 points, or 0.39 per cent.
The broader market displayed similar caution. Nifty 100 and Nifty Midcap 100 closed flat, while Nifty Smallcap 100 gained 45 points, or 0.25 per cent. (Source: IANS)
