Amid mixed global cues, Indian indices continued their downward trajectory but erased most of day's losses towards the close of the trading session. At day's low, Sensex dropped to 49281 levels. At the close, Sensex shed 87 points to settle at 49771.29, while Nifty went lower by 7 points to 14736. Broader markets however outperformed headline indices, with Nifty Midcap 100 up 0.76 percent towards the close.
Adani Ports, Britannia, TCS, Tech Mahindra and Sun Pharma were among the top gainers, while laggards during the session included stocks like IndusInd Bank, Power Grid, ICICI Bank, Tata Motors and HDFC Bank.
Among Nifty sectoral indices, Nifty Realty recorded the sharpest spike surging close to 3%, together with other Nifty indices such as FMCG, IT, pharma and metal trading up in the range of 1-2%. While Nifty Private Bank index bled the most with losses over 1.7 percent.
BHEL on Monday said it has got its first ever overseas order for a grid- connected solar power project in Mauritius. The stock of the company last traded with minor gains of 0.29%.
Meanwhile, a report from BofA Securities said India will be the third largest economy globally in 2031 and should reach nominal GDP of Japan in that year.
At the time of writing this copy, European markets traded mixed with German DAX up 0.09% while French CAC and FTSE traded with losses.