Sensex, Nifty log first fall in 3 days; Adani Ports, CIL drag

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Key Indian equity indices on Monday closed with substantial losses, with the Nifty50 dropping to nearly a three-week low, as negative global cues, outflow of foreign funds, as well as heavy selling in index heavyweights subdued investors' sentiments.

The decline - close to 1% for the Sensex and the Nifty - was all but pervasive across sectors.

The benchmark Sensex today ended lower by 0.84 per cent or 281 points at 33,033.56, breaking its two-session gaining spree following a fall in heavyweights like Adani Ports, Coal India, L&T and RIL.

The NSE Nifty settled the day lower 96.80 points, or 0.94%, at 10,224.95 after shuttling between 10,334.15 and 10,216.25 during the day.

Investors also awaited consumer and wholesale price inflation data this week for clues to the trajectory of food inflation in the months ahead.

Indian markets ended higher on Friday.

Major gainers in the 30-share index were State Bank Of India (6.20%), Larsen & Toubro (3.90%), Hindustan Unilever (2.99%), Mahindra & Mahindra (2.34%), ICICI Bank (2.25%), and Bajaj Auto (2.03%).

"Oil price worries kept energy shares such as Reliance Industries under pressure. Despite significant tax relief at the recent GST council meet, expectation of rise in CPI and WPI inflation added to the cautiousness", said Vinod Nair, Head of Research, Geojit Financial Services Ltd.