New Delhi | Jagran Business Desk: The Indian benchmark indices closed the Monday's session with losses amid weak global cues. The 30-share BSE Sensex closed at 58,964.57, falling by 482.61 points or 0.81 per cent. Likewise, the 50 NSE Nifty ended at 17,674.95, plunging by 109.40 points or 0.62 per cent.
Earlier in the day, the Sensex plunged by 340.03 points or 0.57 per cent to open at 59,107.15, while the Nifty opened at 17,700.00, falling by 84.35 points or 0.47 per cent.
The biggest losers in the Sensex pack were HCL Tech and Larsen and Toubro, shedding by 2.70 per cent and 2.68 per cent respectively. Infosys, Wipro, Asian Paints, HDFC, HDFC Bank, Dr Reddy's, Tata Steel, Hindustan Uniliver, Titan, and Bajaj Finsv were other top losers.
Meanwhile, ICICI Bank was the top gainer, rising by 0.76 per cent, followed by NTPC, Tata Consultancy Services (TCS), Kotak Mahindra Bank, Ultratech Cement, Nestle India, Sun Pharma, and Mahindra and Mahindra.
In the previous session, the Sensex had closed at 59,447.18, rising by 412.23 points or 0.70 per cent, while the Nifty settled at 17,784.35, climbing by 144.80 points or 0.82 per cent.
This came after the Reserve Bank of India (RBI) announced that is has decided to keep borrowing rates unchanged at a record low for the 11th time in a row "to safeguard the Indian economy". However, analysts expect the stock market to remain volatile due to US Treasury yields that have kept investors worried about the economy's long-term prospects.
"With RBI’s policy decision in the rear mirror, the street will now brace for start of the earning season which should at least give us some solid trend. The Q4 earning season is quite significant as it comes on backdrop of the scorching inflation conditions," The Financial Express quoted Prashanth Tapse, Vice President (Research) at Mehta Equities, as saying.
"Well, the theme of the day revolves around TCS results and investors will focus on the management commentary –primarily on future outlook, attrition rates, and deal momentum," Tapse added.