The stock market on Monday began the week on a negative note, snapping a two-day winning run. Nifty lost nearly 1% amid weakness in broader indices and selling across the sectors.
At close, the Sensex was down 609.68 points or 0.71% at 85,102.69, and the Nifty was down 225.90 points or 0.86% at 25,960.55. BSE midcap index shed 1.7% and smallcap index declined 2.2%.
The cumulative market capitalisation of the firms listed on the BSE dropped to nearly Rs 463.6 lakh crore from Rs 471 lakh crore in the previous session.
Among the sectors, each index ended with losses. Nifty Realty was down 3.53%, PSU Bank down by 2.81%, Media down by 2.73%, and Metal was down by 1.92%.
Nifty Bank fell 0.90%, while the Financial Services index dropped 0.70%.
On Nifty, only three stocks traded in green, namely Tech Mahindra (1.22%), Wipro (0.35%), and HCL Technologies (0.12%), ended as the top gainers.
InterGlobe Aviation (IndiGo) (8.62%), BEL (4.92%), and JSW Steel (3.71%) ended as the top losers in the index. Over six days, the airline cancelled more than 2,000 domestic and international flights.
Brokerages have cautioned investors, with some reducing their target prices for the stock as the airline continues to face massive disruptions.
UBS kept its ‘Buy’ call on the shares of IndiGo, but reduced its target price for the stock. Jefferies also kept a ‘Buy’ call on the stock.
Out of 4,485 stocks traded on the BSE, 950 advanced, while 3,348 declined.
Some 187 stocks remained unchanged.
On the BSE, around 527 stocks hit their 52-week lows while 88 stocks hit their 52-week highs in intraday trade.
Those on the lows were PFC, REC, and Trent, while on the highs were SKF India (Industrial), PTC Industries, National Aluminium Company, MCX, and Hindustan Copper.
Vodafone Idea shares finished 5% lower at Rs 10.30 apiece, ending their four-day winning run.
Realty stocks led the declines, with all constituents of the Nifty Realty index closing down by up to 5.3%, pushing the index to shed 3.5%.
FPIs have begun the December series on a weak note, pulling out Rs 11,820 crore through exchanges in the first week of December.