Sensex, Nifty close lower on sharp fall in Kotak Mahindra Bank

MUMBAI: Erasing initial gains, benchmark indices Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows.

The 30-share Sensex declined by 73.48 points or 0.09 per cent to settle at 81,151.27 with 21 of its constituents ending lower and nine closing higher.

The NSE Nifty dipped 72.95 points or 0.29 per cent to 24,781.10.

From the 30 Sensex firms, Kotak Mahindra Bank tanked over 4 per cent after the company's quarterly earnings failed to cheer investors.