Nifty down 122.35 points, Sensex down 362.75 points

Indian Markets end lower for the second consecutive session on Monday. Selling pressure was evident across rate-sensitive stocks mainly the banking and real estate stocks. The rate-sensitives continue to remain under pressure after the unexpected repo rate hike on Friday by the central bank (RBI).

The BSE Bankex ended down by 4.41% or 536.29 points at 11,630.57. All 13 shares which are part of the BSE Bankex index were down during the day's trading. The Bank Nifty declined by 4.45% or 475.10 points to close at 10211.70. All 12 shares which are part of the Bank Nifty declined during the day's trading.

In Bank Nifty, the losers include Union Bank of India (-10.15%), Yes Bank (-8.64%), Bank of India (-7.49%), Bank of Baroda (-7.33%), Axis Bank (-6.56%), Indusind Bank (-6.44%), Punjab National Bank (-6.11%), SBI (-5.93%), Kotak Bank (-4.44%), ICICI Bank (-4.43%), Canara Bank (-4.14%) and HDFC Bank (-2.79%).

The BSE Sensex ended lower by 362.75 points or 1.79% at 19,900.96 and Nifty closed at 5889.75, down by 122.35 points or 2.04%.

Asian stocks ended mixed on Monday with Shanghai Composite ending higher by 1.33%, Kospi ended higher by 0.19% and Hang Seng however ended lower by 0.56%. Australia's ASX closed lower by 0.46%, while markets in Japan were closed on Holiday.

Source : Equity Bulls

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