Daijiworld Media Network – Mumbai
Mumbai, May 19: The benchmark BSE Sensex declined by 271.17 points (0.33%) on Monday, extending losses for the second consecutive day amid selling pressure in IT stocks and a weak global market mood following Moody’s downgrade of the US credit rating.
The 30-share index settled at 82,059.42 after touching a low of 81,964.57 during the session. The NSE Nifty also slipped 74.35 points (0.30%) to close at 24,945.45.
Among Sensex components, IT heavyweights such as Infosys, Tata Consultancy Services, Tech Mahindra, HCL Tech, and others like Reliance Industries, Asian Paints, and Adani Ports were the biggest losers. In contrast, Power Grid, Bajaj Finance, NTPC, State Bank of India, and IndusInd Bank gained ground.
“Markets languished in negative territory for much of the session as weak Asian and European indices triggered profit-taking in IT, capital goods, and oil & gas shares,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
In Asia, South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng ended lower, while Shanghai’s SSE Composite closed higher. European markets remained subdued, although US markets had ended Friday on a positive note.
Brent crude oil prices slipped 0.41% to $65.14 per barrel.
Foreign Institutional Investors (FIIs) were net buyers on Friday, purchasing equities worth Rs 8,831.05 cr, according to exchange data.
On the previous trading day, Sensex had lost 200.15 points (0.24%) and Nifty dropped 42.30 points (0.17%).