Markets slump amid weak global trends; Sensex falls 385 points

Benchmark indices Sensex and Nifty closed lower on Monday due to weak global cues amid caution ahead of the US Fed interest rate decision later this week.

The 30-share BSE benchmark Sensex declined 384.55 points or 0.47% to settle at 81,748.57. During the day, it dropped 581.84 points or 0.70% to 81,551.28.

The NIFTY50 lost by 100.05 points or 0.40% to 24,668.25.

From the 30-share Sensex blue-chip pack, Titan, Adani Ports, UltraTech Cement, Tata Consultancy Services, NTPC, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever and JSW Steel were the biggest laggards.

On the other hand, IndusInd Bank, Bajaj Finance, Power Grid, Mahindra & Mahindra and Axis Bank were the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.

European markets were quoting in the red. Wall Street ended mostly lower on Friday.

Meanwhile, wholesale price-based inflation declined to a three-month low of 1.89% in November on cheaper food items.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,335.32 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.75% to $73.91 a barrel.

The BSE benchmark Sensex jumped 843.16 points or 1.04% to settle at 82,133.12 on Friday. The Nifty climbed 219.60 points or 0.89% to settle at 24,768.30.