Sensex, Nifty End Lower With Earnings In Focus
(RTTNews) - Indian shares ended lower on Monday, with earnings and mixed global cues influencing trading sentiment.
Market heavyweights including ITC, Reliance Industries and Kotak Mahindra Bank were among the top drags.
The benchmark S&P BSE Sensex ended the session down 299.48 points, or 0.45 percent, at 66,384.78 while the broader NSE Nifty index dropped 72.65 points, or 0.37 percent, to 19,672.35.
IT shares slumped 4.3 percent after the company announced demerger of its hotels business.
Kotak Mahindra Bank tumbled 3.9 percent despite the private sector lender reporting positive Q1 results.
Reliance Industries lost 2 percent after the diversified conglomerate on Friday reported a 11 percent drop in Q1 net profit, missing Street estimates.
Tech Mahindra gave up 3.1 percent and Britannia Industries declined 1.5 percent while UltraTech Cement, Mahindra & Mahindra, Dr Reddy's Laboratories, SBI Life and IndusInd Bank rose 1-2 percent.
Global cues were mixed as investors awaited central bank meetings in the U.S., Europe and Japan this week for additional clues on the rate outlook.
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