Stock markets settle lower on fag-end selling; Reliance, Airtel drag

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Benchmark Sensex fell back by 354 points on Monday due to selling in index major Reliance Industries, Bharti Airtel, and Maruti amid weak trends from Asian and European markets.

The 30-share BSE Sensex declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on fag-end selling. During the day, it hit a high of 72,385.93 and a low of 71,602.14.

The Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70.

Among the Sensex firms, Bajaj Finance, Bharti Airtel, Maruti, Bajaj Finserv, HCL Technologies, Titan, Hindustan Unilever, JSW Steel, UltraTech Cement, State Bank of India and Reliance Industries were the major laggards.

Tata Motors jumped nearly six per cent after the company on Friday reported a two-fold jump in net profit at ₹7,100 crore for the December quarter.

Sun Pharma, Power Grid, Mahindra and Mahindra, Tata Steel, NTPC and Tata Consultancy Services were the other gainers.

In Asian markets, Tokyo settled in the green while Seoul, Shanghai and Hong Kong ended lower.

European markets were quoting marginally lower. The US markets ended in positive territory on Friday.

Global oil benchmark Brent crude declined 0.53 per cent to $76.92 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹70.69 crore on Friday, according to exchange data.

The BSE benchmark climbed 440.33 points or 0.61 per cent to settle at 72,085.63 on Friday. The Nifty went up by 156.35 points or 0.72 per cent to 21,853.80.



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