The stock markets closed in the red on Monday after opening on a negative note tracking weak global cues.
The Nifty was down 1.67 per cent or 88 points to close at 5,118 while the Sensex fell by 1.64 per cent or 282 points and closed at 16,877. While all sectoral indices closed in the red, metals, realty, power and auto stocks were the worst hit.
The Head-Technical and Derivatives Research, Geojit BNP Paribas Financial Services Ltd, Mr Alex K. Mathews, said: “It was a completely bearish market today with no opportunity for bulls owing to the heavy sell off happening across sectors. There was hardly any buying despite it being the F&O expiry week.”
“Metals and banking saw huge selling partly owing to constraints on Chinese growth and the fact that dollar in India has been gaining and euro has been falling against all other currencies. Negative European markets owing to the situation in Spain and Greece also continued to adversely impact investor sentiments,” he added.
Volatility was up, with the India Vix closing almost 10.48 per cent up at 18.66.
Dr Reddy, Cipla and ONGC were the top Nifty gainers while Maruti, JP Associates, Sesa Goa, Sterlite and Hindalco were the losers on the Nifty.
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