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Lower levels pulled by RIL, ICICI Bank in Sensex, Nifty

Major benchmarks ended lower on Monday with losses in Reliance, ICICI Bank, HDFC Bank, HUL, Infosys and Axis Bank. The Sensex closed 127 points or 0.22 per cent lower at 58,178 and the Nifty 50 index slipped 14 points to 17,355.

Coal India, Hindalco, Kotak Mahindra Bank, Tata Steel, Bharat Petroleum, TCS, Wipro, Indian Oil and Maruti Suzuki were among the gainers. Reliance Industries was the top Nifty loser, with the stock falling 2.3 per cent to close at Rs 2,370 after the company delayed the launch of its affordable smartphone JioPhone Next, which it is developing in partnership with Google. ICICI Bank, SBI Life, Hindustan Unilever, HDFC Bank, Adani Ports, Eicher Motors, Mahindra & Mahindra, UPL, HDFC Life and Axis Bank were also losers.

Of the 15 sector gauges compiled by the NSE, eight ended higher with the Nifty Metal index rising over 1 per cent. Buying in metal stocks came after the Directorate General of Trade Remedies (DGTR), an investigative arm of the commerce ministry, recommended imposition of anti-dumping duty on some aluminum products from China.

Nifty Bank, Financial Services, PSU Bank, Private Bank, Consumer Durables and Oil & Gas indices closed lower. On the other hand, Nifty Information Technology, Realty, Healthcare, Media and Pharma indices also rose between 0.3-1 per cent. Interest was seen in mid- and small-cap stocks, with the Nifty Midcap 100 index up 0.45 per cent and the Nifty Smallcap 100 index up 0.54 per cent.

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