(RTTNews) – The major Indian stock indices Sensex and the Nifty ended on a weak note on Monday as investors chose to take some profits ahead of the Federal Reserve’s monetary policy announcement due later this week.
The BSE benchmark Sensex snapped a 5-day winning streak, settling at 81.785.74 with a loss of 118.96 points or 0.15%, while the National Stock Exchange’s Nifty50 closed with a loss of 44.80 points or 0.18% at 25,069.20, snapping an eight-session winning streak.
Technology and healthcare stocks were a bit subdued, while realty and PSU bank stocks fared reasonably well.
Mahindra & Mahindra and Asian Paints closed lower by about 1.7% from their previous closing levels. Infosys and Titan both shed about 1.2%.
Cipla, Asian Paints, Shriram Finance, Dr Reddy’s Laboratories, Titan and Eicher Motors declined sharply.
Sun Pharmaceutical Industries, Tata Consultancy Services and Tech Mahindra also ended weak.
Jio Financials climbed about 1.4%. Eternal, UltraTech Cement, Bajaj Auto, Bajaj Finance and Reliance Industries posted modest gains.
On the economic front, data released by the government showed India’s wholesale price inflation rose to 0.52% in August, marking a return to positive territory after two consecutive months of deflation. In July, wholesale inflation had dropped to a two-year low of -0.58%, while in June, it stood at -0.13%.
Meanwhile, India’s forex reserves were up by $4.03 billion to $698.2 6billion in week ending September 5, according to the data released by the Reserve Bank of India (RBI) on Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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