Market in wait and watch mode ahead of earnings season

The benchmark Sensex on Monday closed almost 33 points lower at 26,726.55, extending losses for the second straight session, dragged down by health care, oil & gas and power stocks amid caution ahead of the December quarter earnings due from this week.

A sense of uncertainty prevailed among investors, who fear companies' quarterly results will be impacted by the Centre's surprise demonetisation move. Besides, other developments with regard to state assembly elections and next month's Union Budget are also influencing sentiment. 

Vinod Nair, head of research, Geojit BNP Paribas Financial Services Ltd, said: “The market is consolidating in a narrow range ahead