Equity benchmarks remained rangebound with the Nifty hovering around 8650 level as FMCG stocks continued to support the market while auto, technology and banks dragged
The 30-share BSE Sensex was down 59.45 points at 28017.55 and the 50-share NSE Nifty declined 22.80 points to 8644.10 despite positive market breadth.
About 1044 shares advanced against 825 declining shares on the BSE.
ITC and HUL rallied 1-2 percent while ICICI Bank, Lupin, Sun Pharma and Maruti were down over a percent.
Among the financials HDFC and HDFC Bank were among the top index gainers while SBI extended gains and was up nearly 1% after the state-owned banking major last week announced the merger of its associate banks with itself.
However, IT shares were among the top losers with Infosys and TCS down 0.5%-1% each.
GLOBAL MARKETS
Asian markets eased on Monday on expectations that indications of a rate hike could emerge from the the Federal Reserve at its Jackson Hole meet later this week. Except for the Nikkei which gained marginally on the weakness of the yen the Shanghai Composite was down 0.4%. Straits Times and Hang Seng were down 0.2%-0.5% each.
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