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Sensex falls 131 pts; Nifty below 9,200; IndiGo rallies 6%, Divi's Lab 5%; USL tanks 6%

Auto major Tata Motors (up 1.51 per cent) emerged the top performer on the index while IT behemoth Infosys (down 2.88 per cent) slumped the most.

, ETMarkets.com|
Last Updated: Apr 10, 2017, 04.19 PM IST
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Sensex ends 131 pts lower; Nifty50 below 9,200
NEW DELHI: Lack of any major trigger and the forthcoming March quarter earnings season turned investors sceptical on Dalal Street and they avoided taking large positions on Monday. As a result, the domestic equity benchmarks settled in the negative territory for the third session in a row.

The S&P BSE Sensex ended 131 points lower at 29,575 on Monday, with industry heavyweights Infosys, Reliance Industries and HDFC contributing most to the fall in the index. The 30-share index, which opened at 29,752 against the previous close of 29,706, hit an intraday high and low of 29,831 and 29,553, respectively.

Auto major Tata Motors (up 1.51 per cent) emerged the top performer on the index while IT behemoth Infosys (down 2.88 per cent) slumped the most.

In the midcap space, S&P BSE MidCap index gained 89 points to close at 14,322, thanks to a rally in the shares of Divi’s Lab, Oberoi Realty and Aditya Birla Fashion and Retail.

On similar lines, the broader Nifty50 index of the National Stock Exchange (NSE) slipped below the 9,200 level to settle at 9,181.

"We expect further consolidation ahead and suggest continuing with buy on dips approach. Banking and financials are still leading from the front while others are witnessing mixed move. The recent slide in IT pack is not good news for the investors especially before the result of the IT major, Infosys ltd. In short, stay with trend and avoid laggards, said Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.

In the sectoral landscape, IT stocks bled the most, pushing S&P BSE Information Technology index 164 points lower to 9,983, with Infosys, HCL Tech and TCS were the major contributors to the fall in the index.

On the contrary, metal stocks surged the most.

Among specific stocks, Adani Transmission surged 15 per cent to Rs 93.75 whereas shares of Sobha tumbled 9.70 per cent after the real estate company on Friday informed the bourses that its promoter Sobha Menon sold 40 lakh shares, or 4.15 per cent stake, in the company at an average price of Rs 414 per share on Friday.

Shares of Jindal Worldwide, Archies, Bhushan Steel, Aditya Birla Money and STEL Holdings hit fresh 52-week highs in the first half of trade on NSE.

Global stocks

China stocks fell on Monday with strong gains in listed companies that would benefit from the country's new economic zone were offset by weakness in other sectors after the securities regulator vowed to punish stingy "iron roosters", said a Reuters report.

The blue-chip CSI300 index fell 0.3 per cent to 3,505.14 points, while the Shanghai Composite Index lost 0.5 per cent to 3,269.39 points.

Meanwhile, Hong Kong stocks ended flat. The headline index Hang Seng Index edged down 5.12 points to close at 24,266.18.

European stocks opened flat.

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