Updates for markets close
By Bharath Rajeswaran
June 30 (Reuters) - India's benchmark indexes edged lower on Monday, snapping a four-session rally, as profit-taking in financials near record highs overpowered optimism from easing geopolitical tensions.
The Nifty 50 .NSEI shed 0.47% to 25,517.05 and the BSE Sensex .BSESN fell 0.54% to 83,606.46.
Both indexes had gained 2.7% over the prior four sessions and added 3.1% and 2.7% in June, marking their fourth consecutive monthly advance.
The Nifty and Sensex are now just about 2.9% and 2.8% below their all-time high levels hit in September.
Indian markets have held firm despite global headwinds, but elevated valuations near record highs are triggering selective profit-taking, said Gaurav Garg, analyst at Lemonn Markets Desk.
On the day, eight of the 13 major sectors logged losses. High-weight financials .NIFTYFIN, which hit a record high on Friday, lost 0.6%.
The heaviest stock in the benchmark indexes HDFC Bank HDBK.NS lost about 0.7%.
Meanwhile, small- and mid-cap indexes .NIFSMCP100, .NIFMDCP100 outperformed, rising 0.5% and 0.6%, respectively.
Other Asian markets also fell, while the dollar softened on bets that weaker U.S. jobs data could prompt deeper rate cuts. MKTS/GLOB
Among individual stocks, Sigachi Industries SIGC.NS slumped 11.5% after an explosion at its Hyderabad unit led to a fire and killed at least eight people and injured over 26, according to police.
Torrent Pharma TORP.NS rose 2% after announcing plans to acquire a 46.4% stake in JB Chemicals JBCH.NS from private equity firm KKR. JB Chemicals dropped 6.8% following the deal, which was priced at a discount to its last close.
Alembic Pharma ALEM.NS jumped 7.3% after getting U.S. drug regulator's nod for an injection used to treat certain types of cancer including ovarian cancer.
RBL Bank RATB.NS climbed 3.8% after Citi projected a 15.4% upside over the next 90 days, citing expectations of a rebound in June-quarter earnings.
State Bank of India SBI.NS gained about 2%, leading public sector banks .NIFTYPSU 2.7% higher after JPMorgan hiked its price target.
($1 = 85.4510 Indian rupees)
India's Nifty logs gains for the fourth month in a row https://reut.rs/3TMBQKD
Performance of India's key equity indexes in June https://reut.rs/45JOS2V
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee, Rashmi Aich and Vijay Kishore)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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