Markets halt winning streak on investor sentiment

Mumbai: Benchmark equity indices on Monday paused to catch some breath after their four-session record run as investors preferred to sit on the sidelines and wait for fresh cues ahead of holidays.

At the closing bell, the BSE gauge Sensex was down 38.88 points or 0.09 per cent at 41,642.66; while the NSE barometer Nifty was lower by 9.05 points or 0.074 per cent at 12,262.75.

Traders said the Sensex reshuffle led to some price movements as fund managers adjusted their portfolios. Yes Bank, Vedanta, Tata Motors and Tata Motors DVR have exited the index to make way for Titan Company, UltraTech Cement and Nestle India.

Sectorally, BSE energy, realty, FMCG, power and utilities indices fell up to 1.33 per cent. While BSE auto, teck, IT and consumer durables indices rose up to 0.50 per cent. In the broader market, BSE midcap and smallcap indices too ended up to 0.09 per cent lower.

Subdued trading in global markets ahead of year-end holidays and a disappointing show by the ruling BJP in Jharkhand polls also made investors cautious on the domestic bourses.

Analysts also said that investors remained on the sidelines in absence of fresh triggers in a holiday shortened week.

There is a growing confidence among investors that the government will address the growth concerns through adequate measures to boost consumption and investment to maintain the buoyancy in the market, they said. Brent futures, the global oil benchmark, slipped 0.05 per cent to $66.11 per barrel.