Markets settle lower in volatile trade

In a volatile trade, benchmark indices ended lower on Monday dragged down by index heavyweights ICICI Bank, ITC and Reliance Industries amid largely weak Asian markets.

The 30-share BSE Sensex declined 170.89 points or 0.28 per cent to settle at 61,624.15. During the day, it hit a low of 61,572.03 and a high of 61,916.24.

The broader NSE Nifty dipped 20.55 points or 0.11 per cent to finish at 18,329.15.

From the Sensex pack, Dr Reddy's, ITC, Hindustan Unilever, State Bank of India, ICICI Bank, Nestle, Titan, Mahindra & Mahindra, Larsen & Toubro, and Reliance Industries were among the biggest laggards.

Kotak Mahindra Bank, Tata Steel, Power Grid, IndusInd Bank, Infosys, and Maruti were the major winners.

Elsewhere in Asia, markets in Seoul, Tokyo and Shanghai ended lower, while Hong Kong settled higher.

Equity exchanges in Europe were trading in the positive territory in the afternoon session. Wall Street had ended higher on Friday.

The wholesale price-based inflation declined to a 19-month low of 8.39 per cent in October, on easing prices of fuel and manufactured items.

International oil benchmark Brent crude was trading 0.16 per cent lower at USD 95.84 per barrel.

Foreign Institutional Investors (FIIs) were net buyers on Friday as they bought shares worth Rs 3,958.23 crore, as per exchange data.

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