Indian Shares End Choppy Session Lower
(RTTNews) - Indian shares ended a choppy session lower on Monday as trading resumed after a long holiday weekend.
A cautious undertone prevailed amid fresh U.S.-Iran tensions, Fed rate hike jitters and the recent technology selloff in global markets.
Following renewed exchanges over the weekend, the United States and Iran have agreed to halt military strikes against each other and meet on Tuesday in Doha, Qatar, to resolve their disputes over shipping routes and transit fees.
Brent crude prices hovered near four-month lows below $73 a barrel, helping limit the potential downside to some extent.
The benchmark BSE Sensex fell 372.10 points, or 0.48 percent, to 76,728.37, while the NSE Nifty index dropped 109.75 points, or 0.46 percent, to 23,946.25.
The BSE mid-cap and small-cap indexes fell half a percent and 0.3 percent, respectively.
The market breadth was weak on the BSE, with 2,622 shares falling while 1,717 shares rose and 220 shares closed unchanged.
Among the prominent decliners, Kotak Mahindra Bank tumbled 3.2 percent after Ashok Vaswani, Managing Director & CEO of the bank, opted not to seek re-appointment upon completion of his current term on December 31, 2026.
Automakers Maruti Suzuki India and Mahindra & Mahindra fell 2-3 percent after reports suggested that prices for automotive-grade memory chips have surged roughly 180 percent over the past three months.
Airline Indigo fell more than 2 percent as crude oil prices rebounded in international markets amid simmering U.S.-Iran tensions.
Adani Ports, Hindustan Unilever, Larsen & Toubro, UltraTech Cement and Axis Bank all ended down over 1 percent.
On the positive side, NTPC, BEL, Trent and Eternal all rose over 1 percent.
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