Closing Bell: Sensex falls 85 points, Nifty closes at 17,069

Equity benchmark indices continued their losing streak on
Monday, with the Sensex dropping 84.88 points following selling in index
heavyweights Infosys and Reliance Industries along with weak global equities.

The BSE Sensex fell 84.88 points or 0.15% to settle at
56,975.99 after regaining some lost ground during the fag-end of trade. During
the session, it slipped 648.25 points or 1.13% to 56,412.62. BSE midcap index
fell 0.47% and smallcap index fell 0.87%.

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The NSE Nifty tanked 33.45 points or 0.20% to close at
17,069.10.

Among the sectors, capital goods, auto and IT indices
fell a per cent each. Some buying was seen in power, metal, FMCG and realty
stocks.

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Major laggards from the 30-share Sensex pack include
Titan Company down by 2.95%, Wipro down by 2.74%, Tech Mahindra down by 2.0%,
Infosys down by 1.70%, Asian Paints down by 1.27%, Maruti Suzuki down by 1.18%,
SBI down by 1.16% and Kotak Mahindra down by 1.03%.

Among the gainers were IndusInd Bank up by 4.17%, NTPC up
by 2.54%, PowerGrid Corp up by 2.20%, Tata Steel up by 1.84% and HDFC up by
1.55%.

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The rupee lost early gains to settle almost flat at 76.51
against the US dollar.

Asian markets peers in Seoul and Tokyo closed lower while
Shanghai and Hong Kong were closed for holidays.

European markets were also trading lower in the afternoon
session.

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US stocks had settled significantly lower on Friday.

International oil benchmark Brent crude fell 2.61% to USD
104.3 per barrel.

According to stock exchange data, foreign institutional
investors offloaded shares worth a net Rs 3,648.30 crore on Friday, after they
turned net buyers on Thursday.

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Equity markets will remain closed on Tuesday for
Eid-Ul-Fitr.