Stock market closing
![a person standing in front of a fence: Stock market closing](https://r.search.yahoo.com/_ylt=AwrXoCBHZz9hTAYAqEDQtDMD;_ylu=Y29sbwNncTEEcG9zAzYEdnRpZAMEc2VjA3Ny/RV=2/RE=1631573960/RO=10/RU=https%3A%2F%2Fwww.msn.com%2Fen-in%2Fmoney%2Fmarkets%2Fsensex-nifty-end-lower-as-losses-in-reliance-outweighs-coal-india-gains%2Far-AAOo45o/RK=2/{"default":{"load":"default","w":"27","h":"15","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/AAOo45i.img?h=152&w=270&m=6&q=60&o=f&l=f"}})
Indian shares closed lower on Monday, as losses in heavyweight Reliance Industries over a delay in launching its low-cost smartphone, outweighed sharp gains in Coal India.
The blue-chip NSE Nifty 50 index closed 0.08% lower at 17,355.30, and the benchmark S&P BSE Sensex fell 0.22% to 58,177.76.
Investors are also awaiting August inflation data due later in the day, though analysts expect the reading to hold steady and stay within the central bank’s comfort zone, a Reuters poll showed.
Reliance dragged the index lower, ending down 2.23% after it delayed the launch of an “ultra-affordable” smartphone, being developed by the company’s telecom arm and Google, to November.
Private sector lenders ICICI Bank and HDFC Bank ended down 1.8% and 0.8% respectively and were among the top five losers on the Nifty.
However, losses were cushioned by sharp gains in the world’s largest coal miner, Coal India, that ended up 4% after local media reported it might raise prices to mitigate the impact of rising costs and a wage revision.
IT stocks also lent support, with shares of Tata Consultancy Services closing 1.4% higher, among the top gainers on both the indexes, following the company’s partnership with Dutch tech company NXP Semiconductors NV.
Among other stocks, beleaguered airline Jet Airways jumped 5% on news it would resume domestic operations by the first quarter of 2022. Telecom operator Bharti Airtel, which scaled a record high during the session, ended up 1.04%.
Nifty’s metal index advanced for a third session, rising 1.29%.
Suryoday Small Finance Bank SURO.BO settled 20% higher after a report said lender Clix Capital Services was in merger talks with the bank.
Watch Live TV in English
Watch Live TV in Hindi
