Indian equities ended lower on Monday with investors expecting an extension of the lockdown, while weakness in global markets and rise in crude prices dented sentiments further.
The BSE Sensex ended at 30,690.02, down 469.60 points, or 1.51%, while the 50-share Nifty index was at 8,993.85, down 118.05 points, or 1.3%.
According to analysts, investors are worried that a continuation of the lockdown will intensify pressure on India’s economic growth as well as corporate earnings, which in turn will impact the markets in the future.
Shrikant Chouhan, executive vice president, equity technical research, Kotak Securities Ltd, said trading momentum seen in core economy related stocks and sectors such as infrastructure, auto and cement, indicate