Indian shares closed down 0.45 percent on Monday, as weak Asian markets and firm oil prices weighed the markets down, dealers said. The benchmark 30-share Sensex index fell 66.02 points to 14,498.51, off the day's low of 14,281.1. "The markets were largely down but recovered from the day's lows on bargain hunting in index stocks," said Hiten Mehta, fund manager with Fortune Financial Services.
Metal and telecom stocks were hardest hit. Last Thursday, annual inflation slipped to 12.4 percent for the week ended August 16 from 12.63 percent the previous week, marking the first fall in prices in a month. In Monday's trade, gainers led losers 1,329 to 1,255 on turnover of 34.03 billion rupees (769 million dollars).
India's largest private sector firm Reliance Industries rose 3.8 rupees or 0.18 percent to 2,140.5 while India's top car maker Maruti Suzuki India fell 16.65 rupees or 2.56 percent to 633.75. The world's sixth largest steel maker Tata Steel fell 16.05 rupees or 2.67 percent to 584.3.