Indian share markets on Monday closed lower for the second straight session as heavyweight Reliance Industries and technology stocks underperformed.

The BSE Sensex ended 530 lower at 48,347 while the NSE Nifty 50 index fell 133 to end at 14,238. Reliance Industries, IndusInd Bank, HCL Technologies, Tata Motors and Eicher Motors were among major losers on the Nifty, while gainers included Grasim Industries, UPL, Cipla, Hero Motocorp and Axis Bank. 

Barring for metal and pharma all other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed over 1 percent each. Reliance Industries was the biggest contributor to the decline in the benchmark indices, ending 5.6 percent lower. This was the biggest single-day fall seen in the stock in nearly three months.

Among sectoral indices, technology shares were the biggest laggards in today's session. The Nifty I.T. index ended 1.8 percent lower while the PSU Bank index, Auto index and the Realty index fell 0.8 percent each.

Nifty Pharma outperformed in today's session, ending 1.7 percent higher, mainly led by gains in Aurobindo Pharma, which closed at a record high. Broader markets moved in-line with the benchmark indices. The Midcap index fell 0.9 percent while the Smallcap index declined 1.2 percent in today's session. 1,404 stocks on the NSE ended with losses while 519 stocks bucked the trend to end higher.

TCS's market capital surges, become country's most valuable company

Global FDI fell by 42 pc in 2020, outlook remains weak

Reliance Shares fall 4 pc after Q3 Results