Sensex slips 127 points, Nifty ends session at 17,355; RIL tumbles

Equity benchmark Sensex dropped 127 points on Monday, weighed by losses in index heavyweights Reliance Industries, ICICI Bank and HDFC Bank. The 30-share BSE index ended 127.31 points or 0.22 per cent lower at 58,177.76, while the broader NSE Nifty slipped 13.95 points or 0.08 per cent to 17,355.30.
 
RIL was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra. On the other hand, TCS, Bharti Airtel, Bajaj Finserv, Tata Steel, Maruti and Kotak Bank were among the gainers.
 
“Indian equity benchmarks continued to trade in the red zone in the afternoon session. On the global front, Asian markets were trading mixed amid a surge in US infla­tion to a record high... (and) concerns the Federal Reserve will be forced to tig­hten monetary policy sooner than later," said Narendra Solanki, Head Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.