Indian market snaps its six-day winning streak on Monday
According to market reports, profit booking in banks, telecom and auto stocks pulled the market down. However, the loss was capped with support from rally in index heavyweight Reliance Industries.
Some of the key stocks that declined on Monday were Axis Bank, ICICI Bank, L&T, HDFC, Bharti Airtel, Maruti and Tata Motors while Reliance Industries gained 4.7 percent.
According to media reports, India's biggest oil and gas producer Oil and Natural Gas Corporation (ONGC) is likely to acquire the government's 51.11 percent stake in India's third-biggest fuel retailer HPCL.
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