Markets end lower after two-day rally amid volatile trade

The Indian stock market on Monday snapped its two-day gaining streak, although the Nifty managed to close above the 26,000 mark in a volatile session.

At the close, the Sensex was down 54.30 points, or 0.06 per cent, at 85,213.36, while the Nifty declined 19.65 points, or 0.08 per cent, to settle at 26,027.30. The BSE Midcap index ended flat, whereas the Smallcap index rose by 0.4 per cent.

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The overall market capitalisation of BSE-listed companies remained largely stable at nearly ₹470.4 lakh crore, compared with ₹470.3 lakh crore in the previous session.

Among sectors, most indices ended higher. Nifty Media surged 1.79 per cent, FMCG gained 0.69 per cent, and Consumer Durables rose 0.52 per cent. Nifty Bank edged up 0.12 per cent, while the Nifty Auto index declined 0.91 per cent.

On the Nifty, top gainers included InterGlobe Aviation, which rose 2.05 per cent, Trent, up 1.22 per cent, and Hindustan Unilever, which gained 1.21 per cent.

On the losing side were Mahindra & Mahindra, down 1.90 per cent, Eicher Motors, which fell 1.56 per cent, and ONGC, down 1.18 per cent.

Out of 4,444 stocks traded on the BSE, 2,237 advanced, while 2,029 declined. As many as 178 stocks remained unchanged.

On the BSE, around 132 stocks hit their 52-week highs, while 150 stocks touched their 52-week lows during intraday trade.

Stocks hitting fresh highs included Vedanta, Muthoot Finance, IDFC First Bank, Hindustan Zinc, Federal Bank and Ashok Leyland. Meanwhile, Sheela Foam, Ramkrishna Forgings and Petronet LNG were among those that touched their 52-week lows.

Meanwhile, the Indian rupee weakened to a record low of 90.74 against the US dollar.

Auto stocks such as Mahindra & Mahindra and Hyundai Motor India declined around 2 per cent each.

Other key stocks, including KPIT Technologies, Tejas Networks, Blue Jet Healthcare, Ipca Laboratories, Mankind Pharma and Sapphire Foods India, also closed in the red, falling in the range of 1.5 to 2 per cent.