The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,885 level, a discount of nearly 100 points from the Nifty futures’ previous close.

India stocks were lower after the close on Monday, as losses in the Public Sector Undertakings, Power and Oil & Gas sectors led shares lower. At the close in NSE, the Nifty 50 fell 0.87% to hit a new 1-month low,

On Monday, the BSE Sensex fell by 638.45 points to close at 81,050, while the Nifty index dropped by 197.30 points, ending at 24,817.30. Notable gainers included Mahindra and Mahindra and ITC, whereas Adani Ports and SBI were among the top losers.