Indian markets ended lower on Monday erasing earlier gains. The broad based Nifty traded near 1-month low. At the close, the benchmark 30-share index, BSE Sensex declined 713.53 or 2.00% at 34,959.72 with 27 components registering drop. Meanwhile, the broad based NSE Nifty fell by 205.25 or 1.92% at 10,488.45 with 48 components registering drop.

Biggest losers in the 30-share index were Kotak Mahindra Bank (6.56%), Reliance Industries (3.95%), Asian Paints (3.48%), Tata Motors (3.45%), Adani Ports and Special Economic Zone (3.41%), and Bharti Airtel (3.16%).

On the other hand, Coal India (0.76%), Maruti Suzuki India (0.49%), and Dr Reddy'S Laboratories (0.14%) were the biggest gainers in the Sensex.

Market breadth was negative with 618 advances against 1,640 declines.

Kotak Mahindra Bank topped the value chart on the BSE with a turnover of Rs. 1,168.30 million. It was followed by Sun Pharmaceutical Industries (Rs. 654.70 million), CPSE ETF (Rs. 570.83 million) and Indian Oil Corporation (Rs. 462.58 million).

The volume chart was led by CPSE ETF with trades of over 25.56 million shares. It was followed by Reliance Communications (8.52 million), Indian Oil Corporation (3.45 million) and Infibeam Avenues (3.06 million).