Sensex declines 51 points; Nifty settles flat

Mumbai: The Sensex ended over 51 points lower on Monday while the Nifty settled flat amid a weak trend in global markets and continuous foreign fund outflows.

Markets are awaiting the November inflation data to be announced later in the day, traders said.

The 30-share BSE Sensex declined 51.10 points or 0.08 percent to settle at 62,130.57. During the day, it tumbled 505.52 points or 0.81 percent to 61,676.15.

The broader NSE Nifty ended at 18,497.15, marginally higher by 0.55 points.

From the Sensex pack, Asian Paints, Infosys, Titan, Kotak Mahindra Bank, Power Grid, Bharti Airtel, State Bank of India, and Bajaj Finserv were the major laggards.

Tata Steel, Nestle, Dr Reddy’s, UltraTech Cement, Wipro and HDFC Bank were among the winners.

“A tepid start-off in the domestic market was flattened due to a recovery in banking, metals, and oil & gas, while continued selling in IT stocks weighed on the indices,” according to Vinod Nair, Head of Research at Geojit Financial Services.

In Asia, equity markets in Seoul, Tokyo, Shanghai, and Hong Kong ended lower.

Equity exchanges in Europe were also trading lower in mid-session deals. The US markets had ended in the negative territory on Friday.

International oil benchmark Brent crude dipped 0.80 percent to USD 75.49 per barrel.

Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Friday as they offloaded shares worth Rs 158.01 crore, according to exchange data.