Sensex falls to 76,861.11 as Nifty hovers above 24,000
Business
Markets took a breather on Monday, with the Sensex dropping 239.36 points to 76,861.11 and the Nifty hovering just above 24,000.
After a strong run lately, more stocks were in the red than green: more than 2,200 declined while 1,543 advanced.
Persistent Systems news hits it, autos
Profit booking and sector-specific losses pulled things down.
IT stocks felt the heat after Persistent Systems' big takeover news sent its shares tumbling 10%, with concerns over high valuations and risks.
Auto stocks also struggled, dragging their index down nearly 2%.
Analysts say Nifty's inability to break past the key 24,100 mark is making traders cautious about what's next.