Indian indices slipped for the eighth straight day on Monday. The BSE Sensex slid 310.51 points to finish at 35,498.44. The National Stock Exchange Nifty fell 83.45 points to close at 10,640.95. The decline in stock markets over the last week can be attributed to caution ahead of the General Elections, Mint reported.
“The bears have tightened their grip in the market,” Samco Securities’ head of research Umesh Mehta told the publication. “There was no respite seen [on Monday] as the minor swings on the higher side were also being sold off.”
The biggest loser on both indices on Monday was Tata Consultancy Services. Other stocks which declined the most on the Sensex were Yes Bank, ITC, Sun Pharmaceuticals and Reliance Industries. On the Nifty, these were Yes Bank, Indiabulls Housing Finance, Bajaj Finserv and Coal India.
The top gainers on the Sensex were Oil and Natural Gas Corporation, Tata Motors, Axis Bank, National Thermal Power Corporation and IndusInd Bank. The stocks that rose the most on the Nifty were Bharti Infratel, Zee Entertainment, Oil and Natural Gas Corporation, Axis Bank and National Thermal Power Corporation.
The Indian rupee declined 16 paise against the United States dollar to trade at 71.38 at 4.05 pm on Monday.