Sensex ends lower; stronger rupee hurts IT, drugmakers
Indian shares fell on Monday tracking weak Asian markets after U.S. President Donald Trump`s failure to pass a healthcare reform raised doubts about his ability to push his agenda, while shares of information technology companies and drugmakers were hit by a stronger rupee.
The broader NSE Nifty ended 0.69% lower at 9,045.20 while the benchmark BSE Sensex closed 0.63% lower at 29,237.15.
On 30-share benchmark, among top gainers were State Bank of India (1.20%), Power Grid (0.88%), HDFC (0.87%), Dr Reddy's Lab (0.59%) and ITC (0.30%). Among top losers were Tata Steel (-3.39%), Reliance Industries (-3%), Asian Paint (-2.26%), Coal India (-2.18%) and Sun Pharma (-1.92%).
During the early trade, Indian currency hit a nearly 1-1/2 year high against the dollar tracking gains in Asian currencies.
Domestically, the investors were also focussing on the ongoing Budget session. The government on Monday introduced four Goods and Service Tax (GST) Bills in Lok Sabha.