Benchmark indices ended the day lower with the Sensex closing the day lower by - points, while the Nifty ended the day lower by - points, as heavyweight oil and gas stocks like Reliance and ONGC dropped in trade on lower crude prices.
The Sensex closed the day lower by 134 points, while the Nifty ended lower by 33 points. Banking stocks had a mixed day in trade ahead of RBI's Monetary Policy on Tuesday.
Pharma and IT stocks had a good session in trade on the back of a fast depreciating rupee. TCS, Dr Reddy's, Cipla and Wipro were some of the gainers even as the rupee slid past the 62 levels in trade.
Select Mid cap stocks also saw some selling pressure with Unitech losing almost 5 per cent in trade. Other Mid cap stocks that lost ground were India Cements and Karnataka Bank.
Shares in Oil Marketing Companies had a super session with BPCL and HPCL both gaining ground after crude prices dipped to a 5 year low against the dollar.
Meanwhile, markets across Europe were trading with losses even as commodities like crude oil and precious metal like gold came crashing down.