Sensex, Nifty Decline Dragged By IT, Power Stocks: Market Wrap

The Indian stock benchmarks closed lower on Monday, falling the most in 11 days, dragged by information and technology, utilities, power and realty stocks.

The Sensex closed 0.84% lower at 61,144.84, while the Nifty 50 fell 0.81% to 18,159.95.

Among the Nifty 50 constituents, 14 stocks rose while 36 declined.

Adani Ports and SEZ Ltd., Tech Mahindra Ltd., Reliance Industries Ltd., Hindalco Industries Ltd., and Tata Consultancy Services Ltd were among the top Nifty 50 losers.

Bharat Petroleum Corp. Ltd., Bharti Airtel Ltd., Axis Bank Ltd., IndusInd Bank Ltd. and Hindustan Unilever Ltd. were the top gainers.

The broader indices outperformed their larger peers with the Midcap gauge losing 0.15%, and Smallcap gauge remaining flat. The Largecap index lost 0.85%.

Eighteen out of the 19 sectoral measures compiled by BSE Ltd. declined, with BSE utilities, information and technology, power, and realty indices losing the most over 1%.

The market breadth is skewed in favour of bears. About 1,513 stocks rose, 2,082 fell and 177 remained unchanged.

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