Domestic equity benchmark indices extended declines and bucked the strong trend seen in other Asian markets paced by losses in Asian Paints, Bajaj Finserv, Yes Bank, HPCL and Coal India.
The SP BSE Sensex fell as much as 283 points or 0.8 per cent to 35,525.96 and the NSE Nifty 50 index tumbled 85 points or 0.79 per cent to 10,639.50.Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-United States trade talks in Washington this week and more policy stimulus from major central banks.Back home, seventeen of 19 sector gauges compiled by BSE were trading lower dragged by the SP BSE Consumer Durables Index's 1.3 per cent decline.
Energy, FMCG and Information Technology indices also fell over a per cent each.
On the flipside, SP BSE Realty Index was top gainer, up 1.4 per cent.As many as 40 shares in the Nifty 50 basket were trading lower led by Asian Paints stock's 3.25 per cent decline.
While, 23 shares in the Sensex were trading with a negative bias.Reliance Industries was the biggest drag on the Sensex, followed by Tata Consultancy Services, Hindustan Unilever, HCL Tech and Yes Bank.Selling pressure was broad-based as the SP BSE Midcap Index fell 0.71 per cent and the SP BSE Smallcap Index declined 0.55 per cent.Indiabulls Ventures, Aarti Industries, Tata Power and IDBI Bank were among the losers in the midcap space.
While, Tejas Networks, Finolex Industries, Himadri Specialty Chemical and Take Solutions were among the losers from the smallcap space.(With agency inputs)