Key stock indices Sensex and Nifty declined over 1 per cent at close on Monday due to heavy selling in banking, auto and FMCG shares amid weak global market trends and continued foreign fund outflows.

Reversing its previous session’s gains, benchmark BSE Sensex tumbled 638.11 points or 1.11 per cent to settle at 56,788.81. During the day, it tanked 743.52 points or 1.29 per cent to 56,683.40.

The broader NSE Nifty fell by 207 points or 1.21 per cent to end at 16,887.35 as 42 of its constituents declined. Among Sensex stocks, Maruti fell the most by 3.16 per cent, Hindustan Unilever by 2.77 per cent, IndusInd Bank by 2.55 per cent, ITC by 2.32 per cent, Bajaj Finance by 2.26 per cent, State Bank of India by 2.15 per cent and Kotak Mahindra Bank by 2.03 per cent.

Dr Reddy’s, NTPC, Bharti Airtel and Wipro were the winners.

Sensex had surged by 016.96 points or 1.80 per cent to settle at 57,426.92 on Friday. The Nifty climbed 276.25 points or 1.64 per cent to end at 17,094.35.

“Markets started the week on a feeble note and lost over a per cent, tracking weak global cues,” Ajit Mishra, VP - Research, Religare Broking Ltd, said.

In the broader market, the BSE midcap gauge declined 1.24 per cent and smallcap index fell by 0.54 per cent.

Among the BSE sectoral indices, power fell by 3.24 per cent, utilities by 3.14 per cent, auto (2.11 per cent), FMCG (2.05 per cent), commodities (2.01 per cent), consumer discretionary (1.26 per cent) and realty (1.24 per cent).

Healthcare and telecommunication ended in the green. Global markets are expected to stay under pressure.