Benchmark equity indices Sensex and Nifty declined on Monday due to profit-taking by investors after a record-breaking rally in the last week and a largely weak trend in Asian markets.
Snapping its three-day rally, the 30-share BSE Sensex declined 168.66 points or 0.24 per cent to settle at 71,315.09.
During the day, it fell 341.46 points or 0.47 per cent to 71,142.29.
The Nifty fell by 38 points or 0.18 per cent to 21,418.65.
Among the Sensex firms, Power Grid, ITC, JSW Steel, ICICI Bank, Tech Mahindra, Infosys, IndusInd Bank and Mahindra & Mahindra were the major laggards.
Sun Pharma, Reliance Industries, HCL Tech, Hindustan Unilever, Bajaj Finance and Maruti were among the gainers.
Vinod Nair, head of research at Geojit Financial Services, said, "The market started on a subdued note as concerns over oil supply disruptions through the Red Sea and elevated valuations dented investor sentiment."
In Asian markets, Tokyo, Shanghai and Hong Kong settled lower while Seoul ended in the green.
Global oil benchmark Brent crude declined 0.29 per cent to $76.33 a barrel.
Foreign institutional investors (FIIs) continued their buying momentum as they bought equities worth Rs 9,239.42 crore on Friday, according to exchange data.
