Indian shares experienced fluctuations on Monday before closing slightly lower, as traders secured profits amidst weak global signals.
Global sentiment was shaken due to a stronger-than-anticipated U.S. jobs report, which drove Treasury yields higher and cast doubt on the Federal Reserve's likelihood of cutting interest rates this year.
In Europe, political uncertainties arose after French President Emmanuel Macron called for snap legislative elections in June, following European Union elections that indicated a broader shift towards right-wing and far-right parties.
Investors were also keenly awaiting the release of U.S. inflation data and the upcoming Federal Reserve meeting scheduled for this week for further guidance.
The benchmark S&P BSE Sensex ended the session down by 203.28 points, or 0.27 percent, at 76,490.08. Meanwhile, the broader NSE Nifty index closed at 23,259.20, gaining 30.95 points, or 0.13 percent, from its previous close.
Broader markets outperformed, with the BSE mid-cap and small-cap indexes rising by 0.6 percent and 1 percent, respectively.
Among the significant losers were Bajaj Finance, LTIMIndTree, Wipro, Infosys, and Tech Mahindra, which fell between 2-3 percent within the Nifty pack.
Conversely, UltraTech Cement surged by 3.3 percent on optimism that a potential rationalization in the Goods and Services Tax (GST) rate could benefit the industry.
Other notable gainers included Power Grid Corporation, Hero MotoCorp, Cipla, and Grasim Industries, each posting gains of over 2 percent. Zee Entertainment Enterprises, which is currently under a Futures & Options (F&O) trade ban, saw a significant rise of 4.1 percent.
