In a highly volatile session, equity benchmarks lost
early gains to finish on a flat note on Monday, with the Sensex falling 38
points amid a heavy sell-off in metal stocks.

The BSE Sensex settled 37.78 points or 0.07% lower at
54,288.61. During the day, it touched a high of 54,931.30 and a low of
54,191.55. The broader NSE Nifty fell 51.45 points or 0.32% to close at
16,214.70.

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The broader indices ended in red with the BSE Midcap index
was down by 0.26%, while the Small cap index down by 0.64%.

The top gaining sectoral indices on the BSE were Auto up
by 1.90%, Capital Goods up by 0.91%, IT up by 0.79%, Consumer Disc up by 0.78%
and Consumer Durables up by 0.73%, while Metal down by 8.33%, Basic Materials
down by 4.08%, Oil & Gas down by 1.74%, Energy down by 1.47% and PSU down
by 1.18% were the top losing indices on BSE.

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Major laggards from the Sensex pack were Tata Steel down
by 12.53%, UltraTech Cement down by 3.33%, ITC down by 1.93%, Power Grid Corp
down by 1.72%, HDFC down by 1.40%, HDFC Bank down by 1.35%, HCL Tech down by
1.02%, Reliance down by 0.62%, SBI down by 0.34%, Bharti Airtel down by 0.23%.

Among the gainers were M&M up by 4.14%, Maruti Suzuki
up by 4.07%, Hindustan Unilever up by 2.35%, Larsen & Toubro up by 2.21%,
Asian Paints up by 2.07% and Kotak Mahindra Bank up by 1.45%.

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Rupee recovered from record lows and settled 15 paise
higher at 77.55 against the US dollar.

“Nifty once again gave up the intraday gains and ended
in the negative. Metals stocks sold off post the levy of export duties over the
weekend on iron ore and some steel intermediates,” said Deepak Jasani,
Head of Retail Research, HDFC Securities.

Among Asian market peers, Shanghai, Seoul and Tokyo ended
higher, while Hong Kong settled lower.

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European stock exchanges were trading mostly higher in
the afternoon session. US stock markets had ended on a mixed note on Friday.

Brent Crude, the international oil benchmark gained 1.15%
to USD 113.8 per barrel.

According to stock exchange data, foreign institutional
investors offloaded shares worth Rs 1,265.41 crore on Friday.