The benchmark indices settled slightly lower on Monday tracking the weakness in rupee and the Asian markets.
The S&P BSE Sensex ended at 34,951, down 61 points (-0.17 per cent), while the broader Nifty50 index settled at 10,524, down 29 points (-0.27 per cent).
The rupee traded on a weak note slipping to 73.11 against the US dollar in intra-day trade on Monday, down from its Friday's close of 72.43 per dollar.
Amid stock specific action, Axis Bank settled 2 per cent higher at Rs 623.10 on the National Stock Exchange (NSE) after the private sector lender posted a better-than-expected 82.6 per cent jump in second-quarter profit, boosted by higher interest income and as asset quality improved. State Bank of India rose 3.8 per cent to Rs 296.10 after the country's largest PSU bank reported a net profit of Rs 944.87 crores in the September quarter vs a loss of Rs 4,875.85 crores in June quarter.
Stock markets would remain closed on Wednesday and Thursday for 'Diwali Laxmi Pujan' and 'Diwali Balipratipada'. The BSE and NSE will conduct a special 'Muhurat' trading session on Wednesday, November 7 between 5:00 pm and 6:30 pm, the stock exchanges informed on Friday.
Asian stocks skidded on Monday as fears of faster rate hikes in the United States and uncertainty around the Sino-U.S. trade war deterred investment in riskier assets.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.4 per cent on Monday, slipping back towards last week's 1-1/2 year trough of 505.61 points. Japan's Nikkei stumbled 1.6 per cent while South Korea's KOSPI index fell 1.4 per cent. Chinese shares opened in the red with blue-chip stocks off 1.2 per cent as President Xi Jinping acknowledged conditions abroad had created some challenges for the Chinese economy.
(with Reuters input)