Markets settle on flat note; Sensex declines 34 points

Equity benchmark indices ended on a flat note on Monday, with the BSE Sensex falling nearly 34 points, recording its second day of decline after an eight-day rally.

In a volatile trade, the 30-share BSE benchmark dipped 33.9 points or 0.05 per cent to settle at 62,834.60.

During the day, it fell 360.62 points or 0.57 per cent to 62,507.88.

The broader NSE Nifty eked out marginal gains and ended 4.95 points or 0.03 per cent higher at 18,701.05.

Among the Sensex pack, Reliance Industries, Tech Mahindra, UltraTech Cement, Dr Reddy's, Axis Bank, Bharti Airtel, Bajaj Finserv and Mahindra & Mahindra were the major laggards.

Tata Steel, NTPC, State Bank of India, IndusInd Bank and Power Grid were among the winners.

Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong settled higher, while Seoul ended lower.

International oil benchmark Brent crude was trading 1.73 per cent higher at $87.05 per barrel.

Foreign Institutional Investors (FIIs) bought shares worth Rs 214.76 crore on Friday, as per exchange data.