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The BSE Sensex fell for a fifth straight session on Monday, as investors pared positions in blue-chip stocks such as Reliance Industries ahead of the Reserve Bank of India and the US Federal Reserve’s policy meetings later this week.
The benchmark BSE Sensex fell 0.3 per cent, or 56.06 points, to 20,659.52, marking its lowest close since November 28. The index is now four per cent away from a record high of 21,483.74 hit a week earlier. The broader Nifty ended lower 0.2 per cent, or 13.70 points, at 6,154.70, marking its biggest losing streak since the seven days ending November 13.
Among blue-chip shares, Reliance Industries fell 2.3 per cent, while Sun Pharma ended lower 2.6 per cent.
Among rate-sensitive stocks, mortgage lender HDFC fell one per cent, while Mahindra and Mahindra ended 2.5 per cent lower. Tata Chemicals fell 1.2 per cent after RBI placed a cap on further foreign institutional investments in the company.
Clariant Chemicals India fell 2.1 per cent after the company said it intends to acquire Plastichemix Industries for Rs 135 crore. Tata Steel fell 1.5 per cent, while Jindal Steel and Power ended 3.2 per cent lower.
