The Indian benchmark indices continued to reel under selling pressure for third consecutive session on Monday. The indices settled around 0.5 per cent lower weighed by automobiles and pharmaceutical stocks. The broader market indices underperformed their benchmark peers. The finance ministry has sought from the Reserve Bank of India (RBI) Rs 27,380 crore that was withheld by the central bank towards risks and reserves in the previous years, said sources. The RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It increased to Rs 14,190 crore in 2017-18. Together, retained amount is Rs 27,380 crore. The ministry has requested the RBI to provide an interim surplus for the current fiscal on the analogy of the previous financial year and transfer the amount withheld from the surplus of 2016-17 and 2017-18.
The 30-share index closed at 36395.03 down by -151.45 points or by -0.41 per cent and then NSE Nifty was at 10888.8 down by -54.8 points or by -0.5 per cent. The BSE Sensex touched intraday high of 36588.41 and intraday low of 36300.48 The NSE Nifty touched intraday high of 10930.9 and intraday low of 10857.1.
The top gainers of the BSE Sensex were Tata Steel Ltd. (Rs. 480.40,+2.31%), Power Grid Corporation of India Ltd. (Rs. 182.90,+1.36%), HCL Technologies Ltd. (Rs. 1076.05,+0.95%), Tata Motors Ltd. (Rs. 152.45,+0.76%), Kotak Mahindra Bank Ltd. (Rs. 1304.70,+0.71%), among others.
The top losers of the BSE Sensex were Mahindra & Mahindra Ltd. (Rs. 646.75,-5.31%), Oil And Natural Gas Corporation Ltd. (Rs. 139.00,-3.14%), Bajaj Finance Ltd. (Rs. 2652.50,-1.92%), Reliance Industries Ltd. (Rs. 1253.45,-1.87%), State Bank of India (Rs. 279.80,-1.84%), among others.
Among sectors, BSETECk index was at 7730.77 up by 19.24 points or by 0.25%. Sun TV Network Ltd. (Rs. 574.55,+10.37%), MindTree Ltd. (Rs. 917.50,+2.73%), Vodafone Idea Ltd. (Rs. 31.00,+1.97%), Oracle Financial Services Software Ltd. (Rs. 3787.10,+1.58%), NIIT Technologies Ltd. (Rs. 1325.15,+1.28%),. On the flip side, CGS index was at 16600.7 down by -246.13 points or by -1.46%. Graphite India Ltd. (Rs. 436.00,-9.99%), HEG Ltd. (Rs. 2211.10,-6.83%), Suzlon Energy Ltd. (Rs. 3.45,-6.76%), Bharat Electronics Ltd. (Rs. 76.80,-4.12%), Sadbhav Engineering Ltd. (Rs. 179.60,-2.73%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2897, shares advanced were 921 while 1811 shares declined and 165 were unchanged.