NEW DELHI: Equity indices plunged on Monday with the benchmark BSE sensex falling over 500 points dragged by losses in IT and FMCG stocks.
The 30-share BSE index fell 531 points or 1.09 per cent to finish at 48,348; while the broader NSE Nifty settled 133 points or 0.93 per cent lower at 14,239.
Reliance, IndusInd Bank, HCL Tech, Asian Paints, Ultra Cemco and PowerGrid were the top losers in the sensex pack falling as much as 5.36 per cent.
While Axis Bank, Sun Pharma, Bajaj Auto, Bajaj FinServ, HDFC Bank and Dr Reddy were the top gainers rising up to 2.19 per cent.
On the NSE platform, sub-indices Nifty IT, Realty and FMCG fell as much as 1.70 per cent.
Analysts are of the view that markets may remain volatile in this holiday-shortened week amid monthly derivatives expiry, quarterly earnings and the upcoming Union Budget.
“Today is a day of volatility after the correction on Friday … It remains a buy on dip market,” Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors told news agency Reuters.
Meanwhile, foreign institutional investors (FIIs) offloaded Indian equities worth Rs 635.69 crore on a net basis on Friday.
(With inputs from agencies)
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