The Indian market ended a volatile session modestly lower on Monday, mirroring weakness across global markets.
While Sterlite Industries (down 1.51%), DLF (down 1.41%), Maruti Suzuki (down 1.12%) and Hero Honda Motors (down 1.05%) led the decliners, gainers included NTPC, Reliance Communication, Hindalco Industries, Larsen & Toubro, SBI, HDFC Bank, Mahindra & Mahindra, Tata Steel, Wipro and ONGC.
Sector-wise, FMCG, realty, consumer durable and oil/gas stocks came under selling pressure, while select public sector, banking, capital goods and metal stocks saw modest buying, limiting the downside.
After moving in a narrow range of 18,005- 17,856, the 30-share BSE Sensex ended down 27 points or 0.15% at 17,928, with 19 of its components closing lower. The 50-share Nifty fell by about 7 points or 0.14% to 5,386.
However, the mid-cap and small-cap indexes on the BSE edged up about 0.2% each and in the broader market, gaining shares outnumbered declining ones by 1506 to 1399.
Lending rates may go up after September as credit off take will increase substantially in the second half of this year, ICICI Bank CEO and Managing Director Chanda Kochhar said on the sidelines of a CII function on Monday. ICICI Bank eased 0.23%, while HDFC Bank rose 0.57%, Axis Bank added 0.14% and SBI closed up 0.61%. State-run lender Canara Bank rallied nearly 4% on strong results.
Rate-sensitive property developer DLF declined 1.41% and Unitech lost 0.85%. Software exporter Infosys edged down 0.29% on reports that it is closing an outsourcing unit in Thailand.
In the telecom pack, Bharti Airtel, which expects to launch Apple Inc.'s iPhone 4 in India in September-October this year, ended down 0.32%, while Idea Cellular rose 1.70%. Reliance Communication gained 2.22% on reports of stake-sale to Emirates Telecommunications.
Steel maker Tata Steel gained 0.44% amid reports that it is in talks with lenders to refinance a $5.4 billion debt for its U.K. unit. Heavyweight Reliance Industries slipped 0.63% on buzz it may buy a stake in Texas-based exploration and development firm Quicksilver Resources. Auto maker Tata Motors shed 0.74% after it raised the price of its Nano car.
Iron ore producer Sesa Goa rose 1.84% on a brokerage upgrade. Integrated automation and software solutions firm Honeywell Automation India lost 1.72% on disappointing June-quarter earnings.
Realtor Godrej Properties declined 1.69% on profit taking after hitting a fresh 52-week high earlier in the session. Education services provider Everonn Education plunged nearly 7% on stake-sale reports.
Rail wagon manufacturer Titagarh Wagons advanced 1.39% on reports it is expanding its operations into the West Asian market. Escorts fell 2.41% on reports it may raise the price of its tractors by as much as 4 percent by September.
Fedders Lloyd Corporation gained 2.51% on winning a Rs.55-crore order. Bharat Heavy Electricals closed down about a percent despite securing a Rs 2665-crore contract for setting up a 1,200-megawatts thermal power plant in Chhattisgarh. Torrent Pharmaceuticals added 1.50% after it received tentative approval from the U.S. Food & Drug Administration to market an Asthma drug.
Meanwhile, in a significant development, the Securities & Exchange Board of India's takeover panel, headed by the former head of Securities Appellate Tribunal C Achuthan, has submitted its report to the market regulator today.
The committee recommended raising the acquisition threshold for the initial trigger of an open offer to 25 percent from the current 15 percent, to help prevent hostile takeovers and encourage only serious deals.
The takeover committee also proposed lifting the mandatory open offer size to 100 percent from 20 percent currently, to increase retail investors' participation in open offers arising from mergers and acquisitions.
Elsewhere in Asia, most Asian stocks barring the Chinese market edged lower on Monday, dragging the MSCI Asia Pacific index down by about 0.8 percent, as dismal economic data and disappointing quarterly earnings stoked fears over the pace of U.S. economic recovery. The Japanese market was closed for a holiday.
China's Shanghai Composite average, the worst-performing Asian benchmark in 2010, rose 2.11% on expectations that more investment in low-income housing will boost domestic consumption.
European stocks turned positive after falling in early morning trading and the U.S. index futures pointed towards a rebound on Monday morning following a 3% loss in the previous session.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.