PTI mumbai

Benchmark Sensex declined by nearly 451 points on Monday due to selling in heavyweight stocks HDFC Bank, ICICI Bank and Reliance Industries, weak global trends and unabated foreign fund outflows.

In a volatile trading session, the 30-share BSE barometer dropped by 450.94 points or 0.57 per cent to settle at 78,248.13. As many as 23 of its constituents closed lower while seven closed with gains.  

The barometer opened lower but recovered losses in the mid session to hit a high of 79,092.70. The index failed to hold onto gains in the second half due to selling in bluechips and tanked 621.94 points or 0.79 per cent to touch a low of 78,077.13. The NSE Nifty declined 168.50 points or 0.71 per cent to settle at 23,644.90 as 38 of its components fell and 11 closed higher.

Among Sensex shares, Tata Motors fell the most by 2.24 per cent. Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank, Reliance Industries and Infosys were among the laggards.

"The market began the week on a volatile note, ending with a loss of over half a per cent. After a flat opening, the Nifty gained ground in the first half but faced selling pressure in heavyweight stocks across sectors, reversing its trajectory," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.