Sensex, Nifty Snap Winning Streak, Settle On Weak Note
(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.
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