BSE building, Mumbai (file image), Wikimedia Commons, CC BY 2.0
The Sensex and the Nifty opened higher on Monday, helped by a stronger rupee and softer crude oil.
The gains faded, and the Sensex ended 547.65 points lower at 71,924.68.
Analysts cited foreign outflows, higher bond yields and tensions in the Middle East.
The RBI’s weekend steps to support the rupee did not sustain buying.
India VIX rose 6.05% to 15.23.
The Nifty 50 fell 157.10 points, or 0.70%, to settle at 22,363.35, according to the same report.
Both indices had opened higher, with the Sensex up about 299 points at the open and the Nifty up about 73 points, according to India TV and Analytics Insight.
The decline followed Friday’s rebound, which had ended a prolonged losing streak, according to HDFC Sky.
Market breadth was nearly even, with 2,187 stocks advancing, 2,066 declining and 235 unchanged on the BSE, according to HDFC Sky.
The Nifty Midcap index was flat, while the Nifty Smallcap index rose 1.4%.
Among sectors, Nifty Media rose 4.6%, Realty gained 1%, Auto rose 0.9% and Pharma rose 0.3%, according to HDFC Sky.
IT, metal, private bank, PSU bank and FMCG indices each fell between 0.4% and 1%, according to the same report.
Among Nifty 50 stocks, ITC, Tech Mahindra, L&T, Hindalco and Hindustan Unilever were among the top losers, with falls of about 2% to 3%.
Dr Reddy’s Laboratories, Bajaj Auto, Tata Motors Passenger Vehicles, Bharat Electronics and BSE Ltd were among the top gainers, according to HDFC Sky.
The rupee opened stronger, about 94 to 98 paise higher at around 95.75 to 95.77 per dollar against Friday’s close of 96.73, according to India TV and Analytics Insight.
HDFC Sky said the early recovery in the rupee did not translate into sustained buying in equities, and no closing rupee level was given in the reports reviewed.
BSE building, Mumbai (file image), Wikimedia Commons, CC BY 2.0
