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Mumbai: The Indian benchmark indices ended in negative territory on Monday after a volatile session.

The IT stocks dragged the market in the early trade after the US administration announced $100, 000 fee for new H-1B visas. However, the market rebounded quickly, buoyed by GST reforms that came into effect from Monday.

Sensex ended the session at 82, 159.97, down 466.26 points or 0.56 per cent. The 30-share index started the session in red at 82151.07 against last session’s closing of 82, 626.23 amid a sharp decline in IT stocks. However, the GST reforms that came into effect from Monday restricted the index from dragging further.

Nifty closed at 25, 202.35, down 124.70 points or 0.49 per cent.

“The day began on a weak footing, as negative global cues and concerns over the $100, 000 H-1B visa fee for new applicants dampened sentiment. Benchmark indices opened with a gap-down start, mirroring the cautious mood in global markets. Despite the weak opening, the market quickly filled the gap and attempted a recovery, ” Ashika Institutional Equities said in its note.

However, selling pressure resurfaced, dragging the Nifty to its intraday low as profit-booking dominated the latter half of the session, the note added.

Tech Mahindra, TCS, Tata Motors, Trent, HCL Tech, Sun Pharma, SBI, L&T, ITC, BEL, Maruti Suzuki and Kotak Bank were the top losers from the Sensex basket. While Eternal, Bajaj Finance, Adani Ports, Ultratech Cement, Hindustan Unilever, and Axis Bank settled higher.