Sensex, Nifty End Choppy Session Slightly Lower
(RTTNews) - Indian shares fluctuated before finishing modestly lower on Monday as traders locked in some profits in the wake of weak global cues.
Global sentiment was fragile as a stronger-than-expected U.S. jobs report pushed Treasury yields higher and raised doubts about whether the Fed will be able to cut interest rates this year.
Elsewhere, Europe faced political uncertainty after French President Emmanuel Macron called for snap legislative elections later in June.
Macron's decision comes after the European Union elections showed a broader shift towards right-wing and far-right parties.
Market participants also awaited the release of U.S. inflation data as well as a Federal Reserve meeting due this week for direction.
The benchmark S&P BSE Sensex ended the session down 203.28 points, or 0.27 percent, at 76,490.08 while the broader NSE Nifty index closed at 23,259.20, up 30.95 points, or 0.13 percent, from its previous close.
Broader markets outperformed, with the BSE mid-cap and small-cap indexes ending up 0.6 percent and 1 percent, respectively.
Among the prominent losers, Bajaj Finance, LTIMIndTree, Wipro, Infosys and Tech Mahindra fell 2-3 percent in the Nifty pack.
Among the top gainers, UltraTech jumped 3.3 percent on expectations that an expected rationalization in the Goods and Services Tax (GST) rate could be positive for the industry.
Power Grid Corp, Hero MotoCorp, Cipla and Grasim all rose over 2 percent. Zee Entertainment Enterprises, which is under a Futures & Options (F&O) trade ban, surged 4.1 percent.
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