Sensex, Nifty end lower as banking stocks drag; Cipla, Adani Enterprises fall over 6%

The S&P BSE Sensex fell 311 points to 60,691, while the NSE Nifty 50 settled 99.60 points lower at 17,844.60. Broader markets were also under pressure throughout the day due to increased market volatility.

By ASH24 Web Desk: Benchmark stock market indices settled lower on Monday after trading in negative territory throughout the trading session. Banking and financial stocks were the biggest drags, with several heavyweight shares ending the session with losses.

The S&P BSE Sensex fell 311 points to 60,691, while the NSE Nifty 50 settled 99.60 points lower at 17,844.60. Broader markets were also under pressure throughout the day due to increased market volatility.

Among sectoral indices, Nifty IT and Nifty Auto were the only ones that gained marginally. All other indices fell, with Nifty Oil & Gas and Nifty PSU Bank emerging as the biggest losers.

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Divi’s Laboratories was the top gainer on the Nifty 50 index, gaining 2.55 percent. UltraTech Cement and Tech Mahindra were the two other gainers. On the other hand, Adani Enterprises and Cipla were the biggest drags, losing over 6 percent each.

Banking and financial heavyweights like HDFC, Kotak Mahindra Bank, Axis Bank, SBI, and ICICI Bank also fell over 1 percent. Meanwhile, oil and gas companies like BPCL, ONGC, and BPCL were also among the top losers due to a fresh increase in global oil prices.