Sensex Drops 239 Points On Brexit Fears; Nifty Ends At 8,110

(RTTNews) - Indian shares succumbed to selling amid weak global cues on Monday, as falling oil prices, disappointing Chinese data and weak cues from offshore markets ahead of this week's Fed and BOJ meetings and the upcoming Brexit referendum later this month, sapped investors' appetite for risk.

Sluggish industrial output data also dampened sentiment. India's industrial output unexpectedly contracted in April amid weak performance in manufacturing, data released on Friday showed. Industrial production shrank 0.8 percent in the month, marking its first contraction in three months.

The benchmark BSE Sensex ended the session down 238.98 points or 0.90 percent at 26,396.77 after hitting as low as 26,262.27 in noon trades. The broader Nifty index dropped 59.45 points or 0.73 percent to finish at 8,110.60.

The rupee traded weak at 67.15 per dollar in the evening session, down about 0.55 percent from Friday, marking its steepest fall since about a month. Tata Steel tumbled 3.5 percent after Goldman Sachs downgraded its rating on the stock to 'sell' from 'neutral'. HDFC, SBI, ONGC, Bharti Airtel, BHEL, Tata Motors, ICICI Bank and Idea Cellular lost 2-4 percent.

Gokaldas Exports slumped 10 percent after a report that India's textile exports have fallen in the 2015-16 financial year due to low availability and price of domestic cotton.