Market benchmark Sensex ended 72 points lower on Monday, tracking losses in HDFC Bank, RIL and TCS amid rising concerns over the economic slowdown.
The 30-share index, which opened on a firm note, turned negative in afternoon session before ending 72.50 points, or 0.18%, down at 40,284.19.
The broader NSE Nifty slipped 10.95 points, or 0.09%, to end at 11,884.50.
Yes Bank was among the top losers in the Sensex pack, falling up to 4.08%, followed by Bajaj Auto, M&M, Hero MotoCorp, HDFC Bank, ONGC and TCS which declined up to 2.05%.
Bharti Airtel, Tata Steel, Sun Pharma, PowerGrid, IndusInd Bank, Axis Bank, SBI, Vedanta and Tata Motors rose up to 4.60%.
Despite positive cues from global markets, sentiment in the domestic market was subdued on account of multiple reports suggesting that the pace of India’s economic growth may falter further, traders said.
Bourses in Hong Kong, Tokyo and Shanghai settled on a positive note amid optimism about US-China trade talks while those in Seoul ended in the red.
The Indian rupee depreciated marginally to 71.79 against the US dollar intra-day.