Sensex, Nifty End Off Day's Lows Ahead Of TCS Results
(RTTNews) - Indian shares followed global peers lower on Monday, as better-than-expected U.S. jobs data released on Friday cemented bets of more large Federal Reserve rate hikes.
Domestic markets, however, ended well off their day's lows despite elevated crude oil prices, muted FII inflows and a weakening rupee, which dropped 39 paise to a record low of 82.69 against the U.S. dollar in early trade.
The benchmark S&P BSE Sensex hit an intraday low of 57,365.68 before recouping most of its losses to end the session down 200.18 points, or 0.34 percent, at 57,991.11.
Likewise, the broader NSE Nifty index settled down 73.65 points, or 0.43 percent at 17,241, after having hit a low of 17,064.70 earlier in the day.
Among the prominent decliners, ITC, Asian Paints, Hero MotoCorp, Tata Consumer Products and Tata Motors fell 2-4 percent.
On the positive side, Axis Bank soared 3 percent. The private sector lender said that its employees working from anywhere were awarded higher performance ratings and promotions as compared to the overall staff population.
Tata Consultancy Services (TCS) gained 1.9 percent ahead of its July-September earnings release while Eicher Motors, Wipro and HDFC Life all rose over 1 percent.
IDBI Bank jumped 9 percent after the finance ministry invited initial bids for strategic disinvestment in the lender.
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