Stock Market LIVE Updates: GIFT Nifty hints a flat to negative start; US, Asia mixed

Indian benchmark indices start the week on a negative note, ending lower on the third consecutive session on July 28 with Nifty falling below 24,700 for the first time since June 13.

Despite supportive global markets, the Indian market opened weak with Nifty below 24,800, however, initial hours recovery failed to build on and extended selling in the mid-session dragged the Nifty below 24,700 amid selling across the sectors barring pharma.

At close, the Sensex was down 572.07 points or 0.70 percent at 80,891.02, and the Nifty was down 156.10 points or 0.63 percent at 24,680.90. BSE Midcap index shed 0.7 percent and smallcap index fell 1.3 percent.

Shriram Finance, Cipla, Hero MotoCorp, HUL, SBI Life were among major gainers on the Nifty, while losers were Kotak Mahindra Bank, Wipro, Bajaj Finance, Bharti Airtel, IndusInd Bank.

Except pharma, all other sectoral indices ended in the red with realty index plunged 4 percent, media index shed nearly 3 percent, capital goods, metal, telecom, PSU bank, private bank indices declined 1-1.5 percent.