A benchmark index for Indian equities on Monday gave up its modest early gains and fell below the 17,000-mark in noon trade. The 30-scrip sensitive index (Sensex) of the BSE opened at 17,176.05 points and was ruling at 16,973.47 points, down 109.22 points or 0.64 per cent from its previous close at 17,082.69 points.
The Sensex had soared over 5 per cent in last week. The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lower, 0.75 per cent or 38.35 points down at 5,093.95 points. Broader markets too saw some selling with the BSE 500 index ruling 0.5 per cent lower.
The BSE midcap index was ruling flat while the BSE smallcap was up 0.29 per cent. The market breadth at the BSE was mixed with 1,203 stocks on the advance, 1,191 declining and 107 unchanged. Some of the other top gainers on the Sensex at this time were Maruti Suzuki, Tata Motors, SBI and ONGC, while among losers were RIL, NTPC, L&T and Bharti Airtel. Asian markets rose on Monday with investors reacting positively to reports of US retail sales — a key indicator of consumer spending — registering its strongest growth in 7 months.
Also the G20 allowing the International Monetary Fund to play a greater role in containing the Euro zone debt crisis boosted sentiments. The Japanese Nikkei Monday closed 1.5 percent hgiher at 8,879.6 points, while Hong Kong's Hang Seng was trading 1.26 per cent up at 18,734.68 points. The Chinese Shanghai composite index was ruling flat at 2,430.32 points.