A morning walk down Dalal Street | Technical indicators show Nifty may move up towards 11,600-11,700
Episode 1741, Oct 01, 2019, 01:30 AM
Monday's session saw the continuation of consolidation in the Indian market as the equity benchmarks Sensex and Nifty closed lower for the second consecutive session.
Losses in shares of bank and financial heavyweights amid mixed global cues kept the market down. Rupee's slide against the US dollar also weighed on investor sentiment.
The Indian currency closed 30 paise lower at 70.87 per dollar on September 30.
The Sensex closed with a loss of 155 points, or 0.40 percent, at 38,667.33, with 13 stocks in the green and 17 in the red.
The Nifty pack closed 38 points, or 0.33 percent, lower at 11,474.45, with 22 stocks up and 28 down.
The broader markets suffered more than the frontline indices. BSE Midcap and Smallcap indices declined 1.13 percent and 1.21 percent, respectively, underperforming BSE Sensex.
Market experts expect the consolidation in the market to continue until the result season begins. Moreover, all eyes are now on the RBI's monetary policy meet on October 4 which will give a direction to the market in the near-term.