Sensex snaps 4-session long gaining streak; telecom stocks hog limelight

Snapping four-session long gaining spree, the market on Monday settled lower as sentiment remained cautious ahead of the Union Budget 2017, while a steep surge in stocks of Bharti Airtel and Idea Cellular provided some succour to the frontline indices. 

The S&P BSE Sensex settled the day at 27,849, down 33 points, while the broader Nifty50 quoted 8,632, down 8 points at close. 

In the broader market, the BSE Midcap index bucked the trend to gain 0.3%, while the BSE Smallcap shed 0.3%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,571 shares fell