India's benchmark stock indexes fell on Monday, taking a breather from a record-setting run, as investors digested economic developments in China and looked ahead to policy decisions from top central banks, including the U.S. Federal Reserve, reports Reuters.
The Nifty 50 (.NSEI) fell 0.09 per cent to 20,174.4 points at 9:58 a.m. IST, while the Sensex lost 0.16 per cent to 67,726.7 points, with the latter looking set to snap a 11-day winning streak.
The more locally-focussed mid-cap companies (.NIFMDCP100) fell about 0.17 per cent while the small-cap (.NIFSMCP100) stocks traded 0.2 per cent higher.
Globally, market participants are wagering for the U.S. Federal Reserve to stand pat on rates later this week, and will also look for a further rate trajectory.
"There is some kind of nervousness in the Asian markets since there has been a rise in prices," Saurabh Jain, Assistant VP of Research at SMC Securities said.
"With the ensuing meetings from the Federal Reserve and the Bank of Japan, it is to be seen in that context on what is likely to happen and what will be the guidance from these two central banks," he added.
Additionally, sentiment in China, Asia's largest economy, took a hit after its key property sector continued to remain under stress despite positive economic data which pointed towards stabilisation of its beleaguered economy.
Back in the region, the technology index (.NIFTYIT) led the losses for the day, falling 0.5 per cent, with sector majors HCL Tech (HCLT.NS) and Infosys Ltd (INFY.NS) dropping around 0.4 per cent and 0.9 per cent.
However, the public sector bank index (.NIFTYPSU) advanced about 2.9 per cent, even as the broader banking sector (.NSEBANK) slipped about 0.3 per cent.
Private lender Dhanlaxmi Bank (DNBK.NS) dropped 5 per cent after an independent director resigned, citing differences with board on matters including a rights issue and the bank's capital position.
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