MUMBAI — Indian equity benchmarks slipped slightly on Monday as investors booked profits in select heavyweights and adopted a cautious stance ahead of this week’s Reserve Bank of India Monetary Policy Committee meeting.
The Sensex closed at 85,641.90, down 64.77 points or 0.08 percent. The 30-share index opened higher at 86,065.92, compared with the previous close of 85,706.67, but failed to sustain the early momentum amid subdued sentiment. The Nifty ended at 26,175.75, down 27.20 points or 0.10 percent.
Analysts said markets entered a range-bound phase after touching new highs, as expectations of a December rate cut faded following stronger-than-expected second-quarter GDP data and a weaker rupee. Sentiment was further dampened by softer GST collections in November, driven by lower tax rates.
The auto index outperformed the broader market, supported by strong November sales, GST rationalisation, easing inflation, and robust wedding-season demand.
Among Sensex constituents, Bajaj Finance, Sun Pharma, Trent, Mahindra & Mahindra, SBI, Bharti Airtel, Bajaj FinServ, HDFC Bank, and Axis Bank ended lower. Tata Motors Passenger Vehicles, Maruti Suzuki, BEL, Kotak Bank, Adani Ports, HCL Tech, Tech Mahindra, Eternal, and NTPC closed higher.
Sectoral performance was mixed. Nifty FMCG fell 95 points or 0.17 percent, Nifty Bank slipped 71 points or 0.12 percent, and Nifty Financial Services declined 75 points or 0.27 percent. Nifty Auto added 218.40 points or 0.25 percent, while Nifty IT rose 144 points or 0.39 percent.
Broader indices showed a similarly cautious tone. Nifty 100 and Nifty Midcap 100 finished largely flat, while Nifty Smallcap 100 climbed 45 points or 0.25 percent. (Source: IANS)
