• Source:JND
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Stock Market:  Equity benchmarks Sensex and Nifty surrendered early gains and ended lower on Monday following a sharp decline in Kotak Mahindra Bank and unabated foreign fund outflows. The 30-share Sensex declined 73.48 points or 0.09 per cent to 81,151.27. The barometer opened with a gain of 545 points but succumbed to selling pressure in afternoon trade and touched a low of 80,811.23. The index swung between 958.79 points during the session. The NSE Nifty declined 72.95 points or 0.29 per cent to 24,781.10.

Kotak Mahindra Bank tanked more than 4 per cent as the company's quarterly earnings from the 30 Sensex firms failed to enthuse investors. Other laggards were Bajaj Finserv,  Adani Ports, IndusInd Bank, Bajaj Finance, Ultratech Cement, Infosys, Tata Consultancy Services Bharti Airtel, Hindustan Unilever and JSW Steel.

HDFC Bank rose nearly 3 per cent on Saturday after it reported a 6 per cent rise in its September quarter net profit to Rs 17,825.91 crore on a consolidated basis. On a standalone basis, the net after-tax of the country's largest private sector lender rose to Rs 16,820.97 crore in the reporting period from Rs 15,976.11 crore in the year-ago period.

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Asian Paints, Mahindra & Mahindra, Reliance Industries, Maruti and Tech Mahindra were also among the gainers. Foreign institutional investors offloaded equities worth Rs 5,485.70 crore on Friday, as per exchange data. However, domestic institutional investors (DIIs) bought equities worth Rs 5,214.83 crore.

In Asian markets, Tokyo and Hong Kong ended lower, while Seoul and Shanghai finished higher. European markets were trading mixed. The US markets ended higher on Friday.

Brent crude, the global benchmark, rose 1.04 per cent to $73.82 per barrel. BSE benchmark had climbed 218.14 points or 0.27 per cent to 81,224.75 on Friday after recovering from an early low. Nifty ended 104.20 points or 0.42 per cent higher at 24,854.05.

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(With PTI's Input)