The Bombay Stock Exchange benchmark Sensex on Monday shut shop 124 points in the red as telecom heavyweight Bharti Airtel lost more than five percent on news of its global acquisition plans.
Bharti Airtel lost heavily after the company said it was in talks to buy African assets of Kuwait-based telecom firm Zain for $10.7 billion.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,186.9 points, closed at 16,028.27 points (provisional), down 124.32 points or 0.77 percent from its previous close.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,798.95 points, against the previous close at 4,826.85 points, a loss of 0.58 percent or 27.9 points.
Broader markets also closed in the negative, with the BSE midcap index closing 0.62 percent down and the BSE small cap index 0.39 percent lower.