On BSE, the overall market breadth stood weak as 691 shares advanced while 2,665 declined.New Delhi: The Indian equity indices on Monday extended their losing run for the fifth straight session led by a sell-off across all sectors. Investors turned cautious after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine, increasing concerns about a major war.The benchmark BSE Sensex dropped 383 points or 0.66 per cent to close at 57,301; while the broader NSE Nifty moved 114 points or 0.67 per cent lower to end at 17,092.Mid- and small-cap shares finished on a negative note as Nifty Midcap 100 index fell 1.02 per cent and small-cap shares plunged 2.05 per cent.”Indian equity benchmarks, like their Asian counterparts, were in the red as Europe’s eastern flank teetered on the verge of conflict after Russian President Vladimir Putin ordered troops into separatist regions of eastern Ukraine,” said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd.All of the 15 sector gauges — compiled by the National Stock Exchange — settled in red. Nifty PSU and Nifty Metal underperformed the index by falling as much as 1.48 per cent and 1.11 per cent, respectively.On the stock-specific front, Tata Steel was the top Nifty loser as the stock cracked 4.05 per cent to Rs 1,134. BPCL, TCS, SBI Life and Tata Motors were also among the laggards. In contrast, M&M, Bajaj Finserv, Hero MotoCorp, Eicher Motors and Hindalco were among the gainers.On BSE, the overall market breadth stood weak as 691 shares advanced while 2,665 declined.On the 30-share BSE platform, Tata Steel, TCS, SBI, Dr Reddy’s, IndusInd Bank and ITC attracted the most losses with their shares sliding as much as 3.64 per cent.Both the domestic bourses have witnessed volatile trade since last week, taking cues from the global markets.Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Ltd, said: “Market failed to show resilience to stay above the level of 17,000. As of now, the short-term technical condition shows that the expected range is likely to be between 16,800 and 17,400. While it is subject to further price action evolution, our research suggests it is prudent to wait for volatility to subdue and technical factors to improve before attempting to build short to medium term investments.”
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