Indian Markets end lower on Monday, amid weak global cues - LuvKush Finserve

Markets ended lower on Monday, amid weak global cues, weighed down by selling pressure in rate sensitive shares as investors turned cautious ahead of the RBI policy on Tuesday. The Sensex ended at 19,293 down 134 points or 0.69% and the Nifty ended at 5,835 down by 37 points or 0.64%. The Sensex and the Nifty reached an intra-day low of 19,232 levels and 5,814 mark respectively.

On the sectoral front, BSE Metal index plunged over 2% followed by counters like PSU, Auto, Realty, Oil & Gas, Power, IT and Banks, all slipping between 1-2%. However, BSE FMCG index gained by nearly 1%. Coal India witnessed selling pressure on Monday and was down over 5% on reports that the government is planning to sell up to 10% of its holding in the world's largest coal producer through the offer-for-sale (OFS) route.

Steel shares were also among the top losers in the index with Jindal Steel, Sterlite, Tata Steel and JSW Steel down 1-3 each. Rate sensitive shares were down after hopes of a rate cut faded with better-than-expected industrial growth in January even as retail inflation continues to remain in double digits for the third straight month.

BSE Midcap index slipped by 0.29% and BSE Smallcap index dipped by nearly 1%.

Source : Equity Bulls

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