In volatile trade, domestic markets slipped for the second successive session with the benchmark Sensex on Monday falling nearly 61 points to over one-week low of 29,122.27 on caution ahead of the RBI policy review tomorrow.
On similar lines, the 50-share NSE index Nifty, after moving both ways, slipped below the crucial 8,800-mark and settled down 11.50 points, or 0.13 percent, at 8,797.40.
Profit-booking in recent outperformers, disappointing earnings from some bluechip companies and mixed global cues also weighed on the stock market sentiment, traders said.
Meanwhile, manufacturing sector activity in January slipping from December’s two year record-high as new orders, both from domestic and international sources, continued to grow but at a slower pace, accoding to a monthly HSBC survey.
The BSE Sensex, after commencing on a lower note, continued its decline and slipped below the 29,000-mark to touch intra-day low of 28,958.52 on sustained profit-booking.
However, the benchmark Sensex managed to enter the positive terrain briefly to touch the day’s high of 29,268.13 but late-selling again pushed it back to close at 29,122.27, down 60.68 points, or 0.21 per cent. This is its weakest closing level since 29,006.02 on January 22, 2015.
The Sensex had tumbled 498.82 points last Friday, logging its second biggest single-day fall this year.
In the 30-share Sensex pack, 17 closed with losses, while 13 others led by Axis Bank, Hindalco, Wipro, L&T, GAIL, Sun Pharma, TCS, Tata Motors, Maruti Suzuki and BHEL ended higher.
Major laggards include Bharti Airtel, Dr Reddys, HUL, ICICI Bank, ITC, Sesa Sterlite, Tata Steel and Coal India.