Monday blues: Benchmark indices close in the red

IT WAS A ROLLER-COASTER ride for the benchmark indices on Monday.

- KISHOR KADAM

After opening lower, the Sensex gained nearly 400 points, or 0.50%, to reach 79,092.70 in the first half of the session. Later in the day, it gave up all gains and fell over 1,000 points, or 1.28%, to hit a low of 78,077.13, and eventually ended the day at 78,248.13, down 450.94 points, or 0.57%.

Similarly, the NSE Nifty closed 168.50 points, or 0.71%, lower at 23,644.90.

"The day clearly belonged to the bears, as markets grappled with thin year-end volumes, a weakening rupee, and sustained foreign institutional investor (FII) outflows," said Vikram Kasat, head of advisory at PL Capital - Prabhudas Lilladher.