India's stock indices closed lower on Monday, with sectoral weakness in Real Estate, Metals and Capital Goods contributing to the downturn. At the National Stock Exchange close, the Nifty 50 declined 1.04% to register a fresh one-month low, while the BSE Sensex 30 ended the session down 0.97%.
On the Nifty 50, the session's top performer was Power Grid Corporation of India Ltd (NSE:PGRD), which climbed 1.72% - gaining 4.90 points to finish at 290.55. Bharti Airtel Ltd. (NSE:BRTI) added 1.21% or 21.80 points to close at 1,820.00, and Tech Mahindra Ltd (NSE:TEML) advanced 1.11% or 16.50 points to end at 1,500.00.
At the other end of the Nifty leaderboard, Wipro Ltd (NSE:WIPR) led losses, tumbling 8.45% or 16.77 points to close at 181.60. Jio Financial Services Ltd (NSE:JIOF) retreated 3.67% or 8.70 points to 228.19, and Hindalco Industries Ltd. (NSE:HALC) fell 3.62% or 39.60 points to finish at 1,053.00.
Similar moves were reflected on the BSE Sensex 30. Power Grid Corporation of India Ltd (BO:PGRD) rose 1.56% to 289.80, Bharti Airtel Ltd (BO:BRTI) was up 1.13% to settle at 1,819.20, and Tech Mahindra Ltd (BO:TEML) gained 1.03% to close at 1,498.00. The weakest names included Eternal Ltd (BO:ETEA), down 3.47% to 247.55, Mahindra & Mahindra Ltd. (BO:MAHM), which lost 2.34% to settle at 2,969.50, and Tata Steel Ltd (BO:TISC), down 2.32% to 202.00 at the close.
Decliners outnumbered advancers across the exchanges. On the National Stock Exchange, 2004 stocks fell against 526 that advanced, while 46 were unchanged. On the Bombay Stock Exchange, 2917 shares declined and 1179 advanced, with 154 ending unchanged.
Wipro's share price reached a three-year low in the session, slipping 8.45% or 16.77 points to 181.60 at the close.
Volatility rose alongside the sell-off. The India VIX, which measures implied volatility on Nifty 50 options, increased 8.22% to 17.08.
Commodities and currency markets also moved notably. Gold Futures for August delivery declined 1.08% or 47.21 to $4,318.09 a troy ounce. In energy markets, crude oil for July delivery rose 4.43% or 4.01 to $94.55 a barrel, and the August Brent contract increased 4.13% or 3.84 to trade at $96.93 a barrel.
In currency pairs, USD/INR strengthened 0.66% to 95.57, while EUR/INR rose 0.76% to 110.23. The US Dollar Index Futures was marginally higher, up 0.01% at 100.06.
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