Sensex, Nifty extend losses on lingering worries over interest rates

Benchmark equity indices Sensex and Nifty declined for a second straight session on Monday, losing more than half a per cent due to selling in energy, banking and financials stocks amid lingering concerns over interest rates and inflation.

Reversing its early gains, the BSE Sensex closed lower by 311.03 points or 0.51 per cent at 60,691.54 as 18 of its scrips declined. The index opened higher at 61,112.84 and gained further 290 points to hit the day's high of 61,290.19.

However, selling in index major Reliance Industries, HDFC twins, ICICI Bank Maruti and Kotak Bank dragged down the barometer to a low of 60,607.02.

The NSE Nifty fell 99.60 points or 0.56 per cent to end at 17,844.6 as 30 of its constituents declined while 20 advanced.