Indian benchmark indices close at a loss on Monday
BSE Sensex was down 329.55 points and the NSE Nifty shed 101.85 points.
European markets tumbled after mixed employment data from the United States on Friday made investors focus on the decision to be taken by the US Federal Reserve interest rate hikes.
Investors remained cautious about the Indian market too, ahead of the publication of key economic data, including GDP, IIP and consumer inflation.
According to media reports, India’s economic recovery is falling short of expectations and there are chances of the growth momentum slowing down.
The growth in urban consumption and transportation sector is not able to offset the downward pull from weak global environment and sluggish investment.
Some of the key stocks that posted a loss on Monday were Tata Motors, ONGC, ITC, Sun Pharma and TCS while the gainers included Bharti Airtel, SBI, Axis Bank, Lupin and Tata Steel.
Precision Camshafts, an auto ancillary company based in Solapur, Maharashtra, failed to impress on its debut day at the NSE. It closed at Rs 177.45 on Monday against an issue price of Rs 186, after opening at Rs 165 and managing to touch the day's high at Rs 185 during intra-day trade.
Image : Wikimedia Commons
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