Indian shares gave up early gains to end modestly lower on Monday, with rising oil prices, mixed signals from Fed officials on the rate outlook and concerns over a spike in coronavirus cases in Asia over the weekend weighing on sentiment.
The benchmark 30-share BSE Sensex hit as high as 53,126.73 in early trade before giving up all gains to end the session down 189.45 points, or 0.36 percent, at 52,735.59, weighed down by weak cues from other Asian and European markets.
The broader NSE Nifty index dipped 45.65 points, or 0.29 percent, to settle at 15,814.70.
HDFC Life slumped 4.1 percent to pace the decliners in the Nifty pack, while Coal India, Shree Cement, TCS and Titan Company all fell over 1 percent.
On the positive side, Tech Mahindra, Tata Steel, Divis Laboratories, Hindalco and Dr Reddy’s Laboratories climbed 1-2 percent.
The rupee inched up 1 paisa to settle almost flat at 74.19 against the greenback, while oil hovered around 2-1/2 year highs on expectations demand growth will outstrip supply and OPEC+ will be cautious in returning more crude to the market from August.
Market Analysis
Sensex, Nifty End Modestly Lower
2021-06-28 10:45:33
