Closing Bell: Volatility engulfs Indian market, Nifty settles above 16500

Domestic equity markets Sensex and Nifty50 after starting the day in red swung between gains and losses throughout the session, tracking a negative trend in Asian markets.

Indian equity market extended its fall for the second straight session in volatile trade on Monday. Investors turned wary ahead of the interest rate decisions by various central banks.

In other important news, the Reserve Bank of India's (RBI's) monetary policy committee began its three-day review amid expectations of another hike in key interest rates to control inflation which is above the apex bank's tolerance level. Owing to which headline indices ended in the red in a volatile session.

At the closing bell on June 6, Sensex was down 93.91 points or 0.17% at 55675.32, and the Nifty shed 18.50 points or 0.11% at 16565.80. Top Nifty gainers of the day include Tata Steel, IndusInd Bank and Mahindra & Mahindra, while the top losers were Shree Cements, Asian Paints and BPCL were the top losers.

Sector-wise, selling was seen in realty and capital goods, while in the broad markets, the midcap and smallcap indices also ended in the red as well.

As covid cases rise in India, and mainly in Maharashtra, shares of multiplex operators PVR and Inox Leisure took a hit. Both the companies fell up to 4% today after masks were made mandatory in public places in Maharashtra.

Shares of PVR tanked 3.75% intraday to Rs 1,746.7, down 3.75% on BSE. The scrip is falling for the last two sessions. PVR stock has gained 28.8% in a year and risen 37.7% in 2022. On the other hand, share of another multiplex player Inox Leisure touched an intraday low of Rs 478.35, down by 4.22% on BSE. Stock of Inox has gained 51.07% in a year and risen 36% in 2022.