Markets settle lower amid selling in blue-chip stocks   

Equity benchmark indices Sensex and Nifty ended lower on Monday, dragged down by selling in blue-chip stocks Reliance Industries, Hindustan Unilever, Axis Bank and mixed global trend.

After oscillating between highs and lows during the day, the 30-share BSE benchmark Sensex declined 200.66 points or 0.25 per cent to settle at 81,508.46. During the day, it moved between the high of 81,783.28 and low of 81,411.55.

The NSE Nifty slipped 58.80 points or 0.24 per cent to close at 24,619.

From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards.

Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.

“Markets witnessed a range-bound session and mostly languished in negative territory due to lack of investors’ enthusiasm after last week’s rally,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In Asian markets, Seoul and Shanghai settled lower, while Tokyo and Hong Kong ended in the green.

European markets were trading in higher. US markets ended higher on Friday.

Global oil benchmark Brent crude rose 0.89 per cent to USD 71.75 a barrel.

Foreign Institutional Investors (FIIs) turned sellers on Friday after remaining net buyers for the past three straight session. They sold equities worth Rs 1,830.31 crore, according to exchange data.

On Friday, the 30-share BSE benchmark Sensex declined 56.74 points or 0.07 per cent to settle at 81,709.12, while NSE Nifty dipped 30.60 points to settle at 24,677.80.