Mumbai, Jul 14 : Benchmark stock indices Sensex and Nifty declined on Monday, extending the losing run to the fourth day amid selling in IT shares and foreign fund outflows.
The 30-share BSE Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. During the day, it fell 490.09 points or 0.59 per cent to 82,010.38 but recovered some of the losses towards the close.
The 50-share NSE Nifty settled lower by 67.55 points or 0.27 per cent to 25,082.30.
Sensex has dropped nearly 1,460 points or 1.75 per cent and Nifty by 440 points or 1.73 per cent in the four days of fall since July 9.
Among Sensex firms, Asian Paints fell the most by 1.58 per cent. Tech Mahindra, Bajaj Finance, Infosys, HCL Tech, Tata Consultancy Services, Larsen & Toubro and Tata Motors were among the laggards.
However, Eternal, Titan, Mahindra & Mahindra and ITC were among the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,104.22 crore on Friday, according to exchange data.
The broader indices, however, outperformed the benchmark, with midcap and smallcap indices gaining between 0.71 per cent and 1.04 per cent.
“Consolidation continued in the domestic market as the tariff headlines and a subdued start to the earnings season are influencing investors to be more sensitive with valuation trading at 3 yrs high level,” Vinod Nair, Head of Research, Geojit Investments, said.
However, stock-specific action continues with sector-wise pick-up in healthcare, realty, consumer & discretionary, while IT remains the laggard due to the risk of earnings downgrades in FY26, Nair added.
An Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said.
In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in the positive territory while Japan’s Nikkei 225 index ended lower.
European markets were trading in negative territory.
The US markets ended lower on Friday.
Wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June as deflation widened in food articles and fuel, along with softening in manufactured product costs, government data showed on Monday.
Global oil benchmark Brent crude climbed 0.99 per cent to USD 71.06 a barrel.
On Friday, the Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47. Similarly, the Nifty dropped 205.40 points or 0.81 per cent to 25,149.85. (PTI)
