Sensex Closes 281 Points Lower, Nifty Below 10250

Sensex Closes 281 Points Lower, Nifty Below 10250

On the other hand, TCS, M&M, Sun Pharma, UPL and HPCL advanced 1.76 per cent, 1.30 per cent, 1.14 per cent, 0.67 per cent and 0.37 per cent, respectively.

The broader Nifty of the NSE dropped 0.94 per cent or 96.8 points to end at 10,224.95.

The positive start soon gave way to nervousness as the BSE index cracked below 33,000, but finally ended at 33,033.56 - a three week low - down 281 points, or 0.84%.

At 10 AM: Markets traded in red after opening flat during early morning trade on Monday. "The Nifty hit its lowest level in nearly three weeks", Jasani added.

Ahead of the Consumer Price Index-based inflation data due later in the day, key Indian equity domestic indices- BSE Sensex and NSE Nifty opened flat during early morning trade on Monday.

A weakening rupee, which depreciated by 35 paise to 65.51 against the dollar during the day on fears that the tax rate decision of the GST Council will have a revenue implication of Rs 20,000 crore annually, too dampened investor sentiment. "Oil remained well supported as ongoing output cuts led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russian Federation contributed to a significant reduction in excess supplies, also as tensions in the Middle East raised the prospects of supply disruptions", Desai told IANS. Mahindra & Mahindra, Axis Bank, the State Bank of India and Tata Consultancy Services were the top gainers on both indices.

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