Sensex, Nifty fall as Q4 earnings, Lok Sabha elections come in focus

Among Sensex components, Reliance Industries declined 1.9 per cent and contributed 82 points to the index decline

Benchmark Sensex fell more than 300 points from day’s highs as investors turned cautious ahead of company earnings that begin this week and national polls. Rising oil prices also weighed on investor sentiment. 

Sensex fell 162 points, or 0.42 per cent to close at 38,701 after rising to 39,041. The Nifty declined 61 points, or 0.53 per cent, to end at 11,605. 

"Investors have turned cautious given rise in oil prices and sharp rally in the last couple of months leading to premium valuation of key indices. Additionally, the general election and start of fourth earnings season is adding to the cautiousness,