BSE Sensex closed lower on Monday, after falling for previous four sessions as overseas investors turned sellers. The Sensex closed 17.37 points or 0.07 percent lower at 25006.98 points, whereas the Nifty ended 0.07 percent lower after falling 5.45 points at 7454.15 points.
Foreign investors sold shares worth Rs. 7.23 billion ($120.6 million) on Friday, after purchasing $1.6 billion worth stocks for six sessions.
According to analysts, Narendra Modi's budget lacked enough details about how to tackle fiscal deficit rates.
"The budget euphoria is over. And we have seen a meaningful correction, which is giving an opportunity to add quality stocks to the portfolio. There could be some minor corrections, but the undercurrent is still positive," Reuters quoted Deven Choksey, managing Director, KR Choksey Securities.
On the other hand, the rupee weakened by 17 paise at 60.10 per dollar versus its previous close of 59.93 a dollar on Friday, due to demand for dollars from oil marketing companies and concerns for wholesale price inflation that was found above expectations.
After the BJP-led government curbed farm exports, India's wholesale price inflation eased to a four-month low in June at 5.43 percent.
"We continue to remain cautious on the (inflation) trajectory given the scanty rainfalls witnessed across different parts of the country," Reuters quoted Upasna Bhardwaj, an economist at ING Vysya Bank in Mumbai.
"At the same time, pick-up in demand is further likely to keep the core prices under pressure leaving no room for RBI to ease monetary policy at least through this year."
RBI Governor had raised interest rates three times since taking charge in September 2013. In the policy meeting last month, interest rate was fixed at eight percent.
Indian Stock Indices
Among 12 indices, 50 percent surged while the rest plunged. Apart from Sensex and Nifty that closed lower on Monday, BSE IT, FMCG, Realty and healthcare stocks also ended lower by 119.11 points, 27.45 points, 14.87 points and 61.99 points.
Moreover, among Blue chips, Hindustan Unilever lost 2.94 percent, ICICI Bank fell 0.91 percent lower and Bharti Airtel ended one percent down. Other losers were Infosys, Sun Pharmaceuticals Limited and Titan.
While metal stocks were among the gainers, Hindalco, Tata Steel and JSW Steel ended higher by 3.99 percent, 2.3 percent and 1.02 percent.
Top gainers from BSE:
| Name | Symbol | Last traded in Rupees | Change in rupees | Change in % |
| Advani Hotels and resorts India | ADHO | 51.60 | +8.60 | +20 |
| Vikas Granites Ltd | VIKS | 15.85 | +2.64 | +19.98 |
| Sudal Industries Ltd | SDAL | 19.95 | +2.90 | +17.01 |
| Mobile Telecommunications Ltd | MOBI | 3.35 | +0.45 | +15.52 |
| Meuse kara & Sungrace Mafatlal | MEUS | 11 | +1.37 | +14.23 |
Top losers from BSE:
| Name | Symbol | Last traded in Rupees | Change in rupees | Change in % |
| Ace Edutrend Ltd | ACEL | 35.25 | -8.80 | -19.98 |
| Compucom Software Ltd | CMPU | 11.38 | -1.55 | -11.99 |
| Kallam Spinning Mills Ltd | KALS | 54.65 | -6.60 | -10.78 |
| Sanofi India Ltd | SANO | 2900 | -330 | -10.22 |
| R R Financial Consultants | RRFC | 11.34 | -1.26 | -10 |
On the other hand, the top gainers from NSE were Advani Hotels and Resorts, JK Tyre & Industries, Delta Corp, IVP Limited and Raj Rayon Industries, whereas the top losers were Birla Cotsyn India, Antarctica Ltd, VKS Projects, Compucom Software and Pan India Corporation Limited.
