Sensex and Nifty End Lower; Financials, Energy Drag

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Mumbai: Indian shares ended lower on Monday, dented by losses in financials and energy stocks, after seven consecutive weekly gains saw markets consolidate, while investors shifted their focus to March-quarter corporate results starting this week.

IT services companies Infosys Ltd and Tata Consultancy Services Ltd are scheduled to report their quarterly results on Friday.

The benchmark BSE Sensex closed down 0.42 percent at 38,700.53. The broader NSE Nifty ended 0.53 percent lower at 11,604.5.

The Nifty dropped as much as 1 percent earlier in the session.
Sensex gained 8.5 percent in seven weeks ended April 5, while the Nifty rose 8.8 percent during the same period.

Financial stocks such as Indiabulls Housing Finance Ltd closed 4.8 percent lower, while oil marketers Indian Oil Corp Ltd and Bharat Petroleum Corp Ltd ended 4 percent and 2 percent weaker, respectively.

Index heavyweight Reliance Industries ltd was among the top drag, closing 1.8 percent weaker.