Negative global cues, coupled with heavy selling in index heavyweights like Adani Ports, ONGC, Coal India, HDFC and Larsen and Toubro (L&T) among others, subdued key Indian equity indices on Monday. The markets have been downhill since last week, as Sensex lost nearly 1,000 points from the near-34,000 levels it had attained on back of India's impressive ranking in World Bank's Ease of Doing Business report. BSE Sensex was up by over 37 points or 0.11% at 33,351.80 while the wider Nifty was down at 10,320.35.
Meanwhile, the broad based NSE Nifty climbed by 12.80 or 0.12% at 10,321.75 with 24 components posting rise.
Investors also awaited consumer and wholesale price inflation data this week for clues to the trajectory of food inflation in the months ahead.
On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday. "The Nifty hit its lowest level in nearly three weeks", Jasani added. Property developer DLF lost 2.7 percent after its Q2 profit plunged 93 percent on lower sales.
India's benchmark indices slipped after opening higher on Monday.
"Oil price worries kept energy shares such as Reliance Industries under pressure".
All the sub-indices of the BSE ended in the red except the IT index, which closed up 19.80 points.
Provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 233.56 crore, while domestic institutional investors divested scrips worth Rs 268.77 crore.