Caution ahead of major domestic macro-data release, coupled with weak global cues and heavy selling pressure in banking, capital goods and consumer durables stocks, suppressed the Indian equity markets on Monday.The key equity indices closed with losses of more than half-per cent each, as investors remained cautious ahead of the release of Index of Industrial Production (IIP) and Consumer Price Index (CPI) data later in the evening.The wider Nifty of the National Stock Exchange (NSE) fell by 51.85 points or 0.54 per cent to close at 9,616.40 points.The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,225.43 points, closed at 31,095.70 points -- down 166.36 points or 0.53 per cent from its previous close at 31,262.06 points.It touched a high of 31,225.43 points and a low of 31,044.28 points during intra-day trade.The BSE market breadth was bearish -- with 1,673 declines and 1,019 advances.In terms of broader markets, the S&P BSE mid-cap index fell by 0.53 per cent and the small-cap index by 0.61 per cent.
"Markets began the week on a negative note and ended lower on Monday. The losses came on the back of negative global cues," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS."Major Asian markets ended on a negative note, barring the Jakarta index. European indices like FTSE 100, CAC 40 and DAX traded lower."On the currency front, the rupee weakened by 20 paise to 64.44 to a US dollar from its last close of 64.24-25.In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 169.25 crore, while domestic institutional investors (DIIs) divested scrips worth Rs 63.11 crore.According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, market turnover during the day's trade was less than that of the previous trading session. "Market, it seems, is waiting for economic data due to release today. Some profit booking also cannot be ruled out before the release of CPI and IIP data," Desai told IANS.
"State-run banks saw losses today as sentiment took a hit after Maharashtra agreed on Sunday to write off all loans availed by farmers."Sector-wise, the S&P BSE capital goods index declined by 280.49 points, the banking index by 273.51 points, and the consumer durables index by 212.94 points.On the other hand, the S&P IT index was up by 41.95 points and the Teck (technology, media and entertainment) index by 10.10 points.Major Sensex gainers on Monday were: Infosys, up 1.60 per cent at Rs 963.80; Sun Pharma, up 1.59 per cent at Rs 533.15; Hindustan Unilever, up 0.42 per cent at Rs 1,099.85; Cipla, up 0.41 per cent at Rs 552.25; and Gail, up 0.24 per cent at Rs 381.85.Major Sensex losers were: Larsen and Toubro, down 2.29 per cent at Rs 1,736; Tata Motors, down 2.29 per cent at Rs 456.50; Wipro, down 1.95 per cent at Rs 526.30; ICICI Bank, down 1.88 per cent at Rs 315.75; and Bajaj Auto, down 1.37 per cent at Rs 2,826.90.