Equity benchmark indices continued to trade lower in the mid-trading session on Monday. Kotak Mahindra Bank dragged the banking and financial stocks. Tech-heavy IT stocks dipped as investors reacted to concerns over workforce cuts at TCS.
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said.
Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said.
Stock markets declined for the second day in a row on Friday, with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows.
From the Sensex firms, Trent, Tech Mahindra, Bajaj Finserv, Reliance Industries, Infosys, Kotak Mahindra Bank, HCL Technologies, and NTPC were among the biggest laggards.
However, Eternal, Tata Motors, Sun Pharma, Tata Steel, and Titan were the gainers.