The two key equity benchmarks, Sensex and Nifty, on Monday closed lower amid profit booking by investors. The S&P BSE Sensex declined 523 points to settle at 71,072. On the other hand, the NSE Nifty50 ended at 21,616, down 166 points.

On the 30-share Sensex platform, Tata Steel, NTPC, SBI, IndusInd Bank, ITC, Kotak Bank emerged in the red. On the flip side, Wipro, HCLTech, M&M, Infosys, TechM, Nestle India emerged prime gainers.

In the broader markets, the BSE Midcap index dropped 2.6 per cent while the BSE Smallcap fell 3.16 per cent.

Sectorally, IT and Pharma indices gained 0.76 per cent and 0.28 per cent, respectively, while all other indices, led by Nifty PSU Bank, Realty, Media, and Metal indices plunged 4.5 per cent.

On the IPO front, Apeejay Surrendra Park Hotels made a good stock market debut on Monday, listing at a premium of 21 per cent versus its issue price of Rs 155.

In the previous session on Friday, the S&P BSE Sensex gained 167 points to end at 71,595, while the NSE Nifty50 closed at 21,783, up 65 points.