NSE Nifty50 closes 24.80 points down, IT and banking witness buying support

According to market observers, selling pressure in oil and gas, power stocks dragged the key indices lower, whereas buying support was witnessed in IT and banking.

A weak rupee, along with broadly negative Asian markets and profit booking, pushed the key Indian equity indices in the red on Monday.

According to market observers, selling pressure in oil and gas, power stocks dragged the key indices lower, whereas buying support was witnessed in IT and banking.

In addition, the domestic currency traded lower by 59 paise at 73.03 to a US dollar, from its Friday close of 72.44.

Index-wise, the S&P BSE Sensex settled 60.73 points lower at 34,950.92. It had opened at 35,118.62 from its previous close of 35,011.65.

It touched an intra-day high of 35,123.41 points and a low of 34,811.60 points.

Similarly, the NSE Nifty50 closed 24.80 points down at 10,528.20.