Indian shares fell on Monday, although the markets ended well off their day’s lows.
Local markets followed the weak trend across Asia and Europe as Germany faced political crisis over immigration, Chinese manufacturing data came in softer than expected and trade worries persisted ahead of a July 6 deadline when the United States is due to impose the tariffs on Chinese exports.
The benchmark BSE Sensex fell over 300 points earlier in the day before paring losses to end the session down 159.07 points or 0.45 percent at 35,264.41.
The broader Nifty index dropped 57 points or 0.53 percent to 10,657.30, with a fall in oil prices and positive manufacturing data helping limit the downside.
Crude oil prices fell over 1 percent today on concerns over rising supplies from Russia and Saudi Arabia and amid signs of stumbling growth in Asia.
India’s manufacturing activity expanded at the fastest pace in six months in June, driven by strong growth in output and new orders, survey data from IHS Markit showed. The Nikkei manufacturing Purchasing Managers’ Index climbed to 53.1 from 51.2 in May.
Indiabulls Housing Finance, Adani Ports, Hindalco, NTPC and Bharti Airtel fell 3-4 percent in the Nifty pack, while Titan Company, Asian Paints and Infosys climbed around 2 percent each. Bajaj Auto rose about 1 percent after posting strong sales figures for June.