Indian stocks ended lower on Monday after a somewhat lackluster session as investors largely stayed cautious and refrained from making significant moves.
Data showing a notable drop in trade deficit aided sentiment, but a weaker rupee and higher crude oil prices weighed on the market.
The benchmark BSE Sensex ended down 72.50 points, or 0.18%, at 40,284.19, well off the day's high of 40,542.40.
The National Stock Exchange's Nifty50 ended down 1.20 points, or 0.01%, at 11,894.25.
Telecom stocks had a great outing following an assurance by the finance minister Nirmala Sitharaman that the government doest not want telecom companies to close business on account of Supreme Court's AGR verdict and that the government is working out ways to support the debt laden sector.
Vodafone India soared more than 21% and Bharti Airtel gained about 4%.
Shares of Cadila Healthcare, Unichem Laboratories and Wockhardt Pharma rose sharply. Cadila and Unichem rose on getting an approval from USFDA for their Apremilast and Bupirone Hydrochloride tablets, respectively.
Wockhardt rose on reports some big-name companies, including Dr Reddy's Laboratories and Cipla, and Carlyle & Asian Investment Fund PAG are in race to acquire some of Wockhardt's business segments.
On the economic front, official data released after trading hours on Friday showed India's trade deficit narrowed to $11.01 billion in October, from an upwardly revised $18 billion a year earlier.
Exports dropped by 1.1 percent to $26.38 billion in October and imports were down by 16.3 percent at $37.39 billion.
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