Hindustan Unilever, ICICI Bank and ITC were among main contributors to the losses in Sensex.Domestic equity indices erased all its early gains to closeMonday's session on a negative note.
The SP BSE Sensex dropped 332.55points or 0.86 per cent to trade at 38,312.52.
The broader Nifty50 slipped 98.15 points or 0.84per cent to trade at 11,582.35.
Domestic stock markets posted fourth straight session fall due to widespread selling in FMCG, realty, power and banks stocks amid the rupee hitting yet another record low.Both indices recorded the biggest single day fall since August 2, when the BSE had lost 356.46 points and the NSE Nifty 101.50.Main losers on Sensex pack in the session were Hindustan Unilever (-4.58%), Power Grid (-2.92%), Axis Bank (-2.69%), ICICI Bank (-2.51%), ITC (-2.01%), Mahindra Mahindra (-2.00%).
Hindustan Unilever, ICICI Bank and ITC were among main contributors to the losses in Sensex.
Main laggards on Nifty pack were Bajaj Finance (-4.78%), Hindustan Unilever (-4.51%), Power Grid (-3.62%), Axis Bank (-2.86%) and ITC (-2.61%).The Indian rupee collapsed to a new lifetime low of 71.10 in intra-day trade today, raising concerns on the macroeconomic front.
Country's manufacturing sector activity also eased for the second consecutive month in August."GDP (Gross Domestic Product) data numbers are quite positive which led to early gains in domestic indices today.
However, profit-booking, amid selling in banking stocks and weak global cues pulled the key domestic indices lower in later trade today", said Siddharth Sedani, Vice President, Equity Advisor, Anand Rathi Share and Stock Brokers while speaking to TheIndianSubcontinent.Weakening global cues, triggered by continuing trade war spats alsoimpacted sentiments today.
Asian stocks dropped for the third consecutive session on Monday, hit by worries over further escalation of the US-China trade war and unstable emerging market currencies.On the other hand, major gainers in the 30-share Sensex pack in the session were Wipro (+2.49%), Bajaj Auto (+0.68%), HDFC Bank (+0.58%), Sun Pharma (+0.57%), Coal India (+0.47%) and Vedanta (+0.44%).
Dr Reddy's (+3.85%), Wipro (+2.62%), Eicher Motors (+2.34%), Titan (+2.20%) and Hindustan Petroleum (+1.26%) led the pack of Nifty gainers.Shares of software major Wipro Ltd rose as much as 8 per cent on Monday in their biggest intraday gain since July 2013 after the company said on Sunday it had won a contact worth more than $1.5 billion (Rs.
10,500 crore ) from US-based Alight Solutions LLC.GDP data released after market hours on Friday showed that India's economy grew 8.2 per cent in the April-June period.
That marked the highest level of economic growth recorded since the January-March period in 2016.
(With agencies inputs)