Equity benchmark indices edged lower on Monday with Reliance Industries along with select banking and IT stocks under selling pressure throughout the trading session.
At the closing bell, the BSE S&P Sensex was down by 127 points or 0.22 per cent at 58,178 while the Nifty 50 dipped by 14 points or 0.08 per cent to 17,355.
Sectoral indices were mixed with Nifty private bank down by 0.5 per cent, PSU bank by 0.4 per cent and financial service by 0.2 per cent. But Nifty metal rose by 1.3 per cent and realty by 0.6 per cent.
Among stocks, index heavyweight Reliance Industries lost by 2.3 per cent to Rs 2,369.80 per share as subsidiary Jio delayed the launch of ultra low-cost smartphone.
ICICI Bank was down by 1.7 per cent, HDFC Bank by 0.8 per cent, Axis Bank by 0.4 per cent and IndusInd Bank by 0.3 per cent.
IT majors Tech Mahindra and Infosys were down by 0.3 per cent and 0.04 per cent respectively. Eicher Motors, Mahindra & Mahindra, Hero MotoCorp and Bajaj Auto too were in the negative zone.
However, Coal India, Hindalco, Tata Steel, Bharti Airtel, Britannia and Britannia traded with a positive bias.
Meanwhile, Asian shares made a sluggish start to a week packed with major US and Chinese economic data.
Japanese shares have been on a tear as hopes for fresh stimulus from a new Prime Minister saw the Nikkei surge 4.3 per cent last week. But the Nikkei rose by 0.22 per cent ahead of the resistance barrier.
Hong Kong equities sank 1.5 per cent following another sell-off on Wall Street fuelled by fresh inflation concerns. South Koreas's Kospi was up only 0.07 per cent.
( With inputs from ANI )
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