Sensex and Nifty closed in the negative territory on Monday tracking weakness in the rupee, rising crude prices and heavy selling pressure in most PSU banks, metals, auto, NBFCs and realty stocks. According to market observers, cautioned also prevailed ahead of the release of major macroeconomic data later in the evening. Consumer Price Index (CPI) data for October and Index of Industrial Production (IIP) data for September will be released after market hours today. The India volatility index (VIX) spiked over 8%.The BSE Sensex tanked 346 points or 0.98% to close the trade at 34,812.99 points. Out of 2,759 companies trading on the BSE, 1,552 declined as against 1,048 advances indicating a bearish trend in the market. Blue-chips shares of HDFC Bank, Reliance Industries, HDFC, ITC, Maruti Suzuki, SBI
, ICICI Bank, Tata Motors, M&M and Hero MotoCorp together wiped off nearly 280 points from the Sensex.
The NSE Nifty 50 closed below the 10,500-mark at 10,482.20 points, down 103 points or 0.97% led by selling pressure in all sectoral indices barring the IT index. The Nifty BAnk index ended 0.90% lower. Titan, Tech Mahindra, Tata Steel, Kotak Bank, and HCL Technologies were the top gainers on the Nifty, while HPCL, Tata Motors, IOC, Hero MotoCorp and Hindalco were the top index losers.
Asian shares fell on Monday, extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth, said a Reuters report. Emerging market stocks and currencies fell, pressured by a strong dollar and rising oil prices with net crude importers bearing the brunt. The Indian rupee slipped past the 73/$ mark intraday to a low of 73.0675 against the US dollar.