Standard indicators Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the once five months, following a bearish trend in global requests amid enterprises over aggressive rate hikes by developed husbandry.
Fresh foreign fund exoduses and losses in IT, bus and oil painting stocks also downsized investor sentiments.
The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses. During the day, it tanked 526.29 points or 0.88 per cent to 58,937.64.
The NSE Nifty fell 73.10 points or 0.42 per cent to end at 17,392.70 as 33 of its stocks ended in the red.
Sensex and Nifty fell for a seventh straight session, matching the seven- session losing run in the last week of September last time. In the seven sessions, Sensex collapsed 2,031 points or 3.4 per cent while Nifty shed 643 points or 4.1 per cent to close below the 17,400 position.
From the Sensex pack, Tata Steel, Infosys, Tata Consultancy Services, Tata Motors, Mahindra & Mahindra, HCL Technologies, Larsen & Toubro, Bharti Airtel, Wipro and Bajaj Finance were the biggest dalliers.
Power Grid, ICICI Bank, Kotak Mahindra Bank and State Bank of India were among the winners.
“Bears continued to inflict annihilation in the domestic request as the rearmost data releases from the US heightened the being worries of aggressive rate hikes. The particular consumption expenditure in the US, which is Fed’s crucial monitorable of affectation, increased in January, obliging investors to stay down from equities requests,” said Vinod Nair, Head of Research at Geojit Financial Services.
In Asian requests, South Korea, Japan, China and Hong Kong ended lower.
Equity markets in Europe were trading in the green. The US markets had ended sprucely down on Friday.
International oil benchmark Brent crude climbed 0.35 per cent to USD 83.41 per barrel.
Foreign Portfolio Investors (FPIs) unloaded shares worth ₹ 1,470.34 crore on Friday, according to exchange data.
Foreign investors have turned conservative and pulled out ₹2,313 crore from Indian equities so far this month.
