Benchmark equity indices closed in the red on Monday, dragged by banking and Tata group stocks, with investors turning cautious ahead of key domestic and US inflation data due on Tuesday.

The BSE benchmark Sensex declined 617 points or 0.83% to settle at 73,502, while the broader NSE Nifty dropped 161 points or 0.72% to end at 22,332.

Among the blue-chip stocks, Power Grid Corp and Tata Steel were the top laggards, falling over 2% each. SBI, IndusInd Bank, NTPC, and HDFC Bank also closed lower, while Nestle India, Bajaj Finserv, Asian Paints, and Tech Mahindra closed with gains.

NLC India shares closed nearly 7% higher after the company’s offer for sale (OFS) opened for retail investors. RVNL shares also closed over 3% higher after the company bagged four orders worth Rs 2,092 crore.

On the sectoral front, Nifty Bank, Media, Metal, Realty, and Oil & Gas closed over 1% lower. Whereas, only Nifty Pharma and Healthcare ended higher.

The market capitalisation of all listed companies on BSE declined by Rs 3.15 lakh crore to Rs 389.66 lakh crore.The market breadth was skewed in the favour of the bears. About 3,039 stocks declined, 924 gained, and 118 remained unchanged on the BSE.