By Malvika Gurung
Investing.com -- The domestic market ended lower, extending the trend for the third consecutive session on Monday amid global headwinds including hawkish prospects of prolonged monetary tightening by the US Federal Reserve at the FOMC meeting minutes later this week as well as rising concerns over economic fallout due to fresh Covid-19 restrictions in China.
Sell-offs across IT, metal, financial and auto stocks exerted pressure on the domestic market, while PSU banking stocks provided support. Heavyweights like Reliance Industries (NS: RELI ) and ONGC (NS: ONGC ) fell up to 5% in the day, the latter being the top loser on Nifty.
Most sectoral indices listed under the Nifty umbrella ended the session in red, led by Nifty IT and Nifty Realty , while Nifty PSU Banks jumped 1.41% with UCO Bank (NS: UCBK ) skyrocketing 20%. Nifty Bank slipped 0.21%.
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