Sensex, Nifty End At Five-Month Low Dragged By Bank, Telecom Stocks: Market Wrap

India's benchmark stock indices ended at a five-month low on Monday, due to decline in banking, telecom, and automobile stocks.

The S&P BSE Sensex fell 1.52% to close at 58,237.85, while the Nifty 50 ended 1.49% lower at 17,154.30.

The benchmark Nifty 50 has fallen below 17,255—the lowest level since Feb. 28. The index was dragged by the Nifty Bank index, which declined 2.27% to end at 39,564.70.

Of the Nifty 50 constituents, four advanced, 45 declined, and one remained unchanged.

Tech Mahindra Ltd. and Apollo Hospitals Enterprise Ltd. were the only gainers of Nifty 50 index, while IndusInd Bank Ltd., State Bank of India, Tata Motors Ltd., Mahindra & Mahindra Ltd., and Eicher Motors Ltd. were the top losers.

The broader indices underperformed the benchmark. BSE MidCap fell 1.82% and BSE SmallCap declined 2.08%.

The market breadth was skewed in favour of the bears. On the BSE, about 772 stocks rose, 2,829 declined, and 156 remained unchanged.