Market close
Indian shares ended the trading day in the red on Monday as sectoral losses weighed on indices. At the close on the National Stock Exchange (NSE), the Nifty 50 fell 1.49% and recorded a new 1-month low. The Bombay Stock Exchange (BSE) Sensex 30 declined 1.70% over the session.
Top gainers and laggards
On the Nifty 50, the strongest performer was Tata Consumer Products Ltd (NSE:TACN), which advanced 7.97% - a gain of 93.80 points - to finish at 1,270.00. Coal India Ltd (NSE:COAL) added 1.59% or 7.25 points to close at 463.65, and Sun Pharmaceutical Industries Ltd. (NSE:SUN) rose 1.47% or 27.10 points to end at 1,875.00.
At the other end of the Nifty, Titan Company Ltd (NSE:TITN) led declines, falling 6.86% or 309.10 points to close at 4,199.90. State Bank Of India (NSE:SBI) slipped 4.31% or 43.90 points to finish at 975.40, and Eternal Ltd (NSE:ETEA) declined 4.03% or 10.34 points to 246.05.
BSE movers
Among Sensex constituents, Sun Pharmaceutical Industries Ltd. (BO:SUN) rose 1.34% to 1,872.00, Hindustan Unilever Ltd. (BO:HLL) gained 0.97% to settle at 2,310.00, and Adani Port and Special Economic Zone Ltd (BO:APSE) added 0.43% to close at 1,767.85.
Lagging names on the BSE included Titan Company Ltd (BO:TITN), which fell 7.01% to 4,197.00, State Bank Of India (BO:SBI) which lost 4.37% to settle at 975.00, and Eternal Ltd (BO:ETEA) which was down 4.02% to 246.05 at the close.
Market breadth and volatility
Declining issues outnumbered advancing ones on both exchanges. On the NSE, 1,824 stocks fell while 717 advanced and 49 finished unchanged. On the BSE, 2,694 stocks dropped, 1,392 advanced and 175 were unchanged. The India VIX, which measures implied volatility of Nifty 50 options, rose 9.93% to 18.51.
Notable price milestones
Shares of Tata Consumer Products Ltd (NSE:TACN) rose to all-time highs, closing at 1,270.00 after a 7.97% gain. Sun Pharmaceutical Industries Ltd. traded at 52-week highs, with NSE-listed shares (NSE:SUN) ending at 1,875.00 and BSE-listed shares (BO:SUN) at 1,872.00. Adani Port and Special Economic Zone Ltd (BO:APSE) rose to all-time highs, closing at 1,767.85.
Commodities and currencies
In commodities, Gold Futures for June delivery fell 1.25% or 59.14 to $4,671.56 a troy ounce. Crude oil prices rose: June delivery crude increased 2.38% or 2.27 to $97.69 a barrel, and the July Brent contract was up 2.36% or 2.39 to $103.68 a barrel.
On the currency front, USD/INR strengthened 0.71% to 95.11, while EUR/INR rose 0.77% to 112.17. The US Dollar Index Futures was up 0.12% at 97.90.
What this means
The session featured broad-based selling that was concentrated in sectors cited by market participants as underperformers - Consumer Durables, Real Estate and Power - while select large-cap defensive and commodity-linked names posted gains. Volatility increased as measured by the India VIX, and commodities and FX moves showed strength in crude and the dollar alongside weaker gold.
Data point note: All price changes, percentage moves and closing levels reported above are as stated at the close of trading on Monday.