Sensex slides 540 points as auto, metal stocks drag; Nifty settles at 11,768 – Times of India

NEW DELHI: Equity indices finished lower on Monday with the benchmark BSE sensex falling nearly 550 points dragged by auto and metal stocks.
The 30-share BSE index fell 540 points or 1.33 per cent to close at 40,146; while the broader NSE Nifty plunged 163 points or 1.36 per cent to close at 11,368.
Bajaj Auto, M&M, Reliance, Tata Steel, Tech Mahindra and SBI were the top losers in the sensex pack falling up to 6.05 per cent.
While Nestle India, Kotak Bank, IndusInd Bank, Power Grid and Hindustan Unilever were the top gainers rising as much as 2.48 per cent.
On the NSE platform, sub-indices Nifty Auto, Metal and Media fell as much as 3.50 per cent.
“Indian equities are likely to witness some amount of volatility this week due expiry factor,” Arjun Yash Mahajan, head institutional business at Reliance Securities told news agency PTI.
Announcement of second quarter earnings by a large number of companies and key economic data especially infrastructure output (core sector) and fiscal deficit for September would be key things to watch out for, he added.
Shares of Reliance Industries dragged nearly 4 per cent after e-commerce giant Amazon won an interim order to pause Future Group’s $3.38 billion asset sale to India’s most valuable company.
However, Reliance has dismissed Amazon’s push to delay the acquisition and said that it would enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay.
Meanwhile, the rupee depreciated 23 paise and settled at 73.84 (provisional) against the US dollar on Monday as muted domestic equities and strong American currency weighed on investor sentiment.
(With agency inputs)