Domestic markets end bearish; Nifty at 7-month low

Domestic markets on Monday closed down by nearly 1% after Prime Minister Narendra Modi's remark on "long-term capital gains tax".

BSE Sensex ended at 25,807.10, down 233.60 points, or 0.90%. While, Nifty closed at 7-month low at 7,908.25, down 77.50 points, or 0.97%.

S&P BSE MidCap closed at 11,505.83, down 254.95 points, or 2.17%.

Sector-wise, Realty (-3.61%), Metal (-2.85%) and Healthcare (-2.58%) were biggest losers.

On 30-share benchmark, the top gainers were Hindustan Unilever (1.25%), Bharti Airtel (0.25%), Tata Consultancy Services (0.17%), ITC (0.11%) and Larsen & Toubro (0.05%).

Among top losers were Cipla (-4.94%), Lupin (-2.78%), Tata Steel (-2.64%), State Bank of India (-2.07%) and ONGC (-2.07%).

Soon after PM Modi's remark, Finance Minister Arun Jaitley issued a clarification that PM's words were misrepresented and no such proposal was under consideration. 

However, Jaitley's clarification failed to calm the investors.