New Delhi, Dec 8 (UNI) The stock market on Monday began the week on a negative note, snapping a two-day winning run, as the Nifty lost nearly 1 per cent amid weakness in broader indices and selling across the sectors.
At close, the Sensex was down 609.68 points or 0.71 per cent at 85,102.69, and the Nifty was down 225.90 points or 0.86 per cent at 25,960.55. BSE midcap index shed 1.7 per cent and smallcap index declined 2.2 per cent.
The cumulative market capitalisation of the firms listed on the BSE dropped to nearly Rs 463.6 lakh crore from Rs 471 lakh crore in the previous session.
Among the sectors, each index ended with losses. Nifty Realty was down 3.53 per cent, PSU Bank down by 2.81 per cent, Media down by 2.73 per cent and Metal was down by 1.92 per cent.
Nifty Bank fell 0.90 per cent, while the Financial Services index dropped 0.70 per cent.
On Nifty, only three stocks traded in green namely Tech Mahindra (1.22 per cent), Wipro (0.35 per cent) and HCL Technologies (0.12 per cent) ended as the top gainers.
InterGlobe Aviation (IndiGo) (8.62 per cent), BEL (4.92 per cent ) and JSW Steel (3.71 per cent) ended as the top losers in the index.
Over six days, the airline cancelled more than 2,000 domestic and international flights.
Brokerages have cautioned investors, with some reducing their target prices for the stock as the airline continues to face massive disruptions.
UBS kept its ‘Buy’ call on the shares of IndiGo, but reduced its target price for the stock. Jefferies also kept a ‘Buy’ call on the stock.
Out of 4,485 stocks traded on the BSE, 950 advanced, while 3,348 declined.
Some 187 stocks remained unchanged.
On the BSE, around 527 stocks hit their 52-week lows while 88 stocks hit their 52-week highs in intraday trade.
Those on the lows were PFC, REC and Trent while on the highs were SKF India (Industrial), PTC Industries, National Aluminium Company, MCX and Hindustan Copper.
Vodafone Idea shares finished 5 per cent lower at Rs 10.30 apiece, ending their four-day winning run.
Realty stocks led the declines, with all constituents of the Nifty Realty index closing down by up to 5.3 per cent, pushing the index to shed 3.5 per cent.
FPIs have begun the December series on a weak note, pulling out Rs 11,820 crore through exchanges in the first week of December.
