Mumbai, June 29 -- Benchmark indices surrendered early gains to end lower on Monday as profit booking weighed on sentiment. The Nifty slipped below the 23,950 mark after touching an intraday high of 24,120. Selling pressure in auto and IT stocks dragged the market lower. Persistent Systems tumbled after announcing a voluntary public takeover offer for Munich-based digital engineering company Nagarro SE. Pharma stocks bucked the broader weakness and ended higher.

The S&P BSE Sensex declined 372.10 points or 0.48% to 76,728.37. The Nifty 50 index fell 109.75 points or 0.46% to 23,946.25.

Kotak Mahindra Bank (down 2.93%), Mahindra & Mahindra (down 2.43%) and Reliance Industries (down 1.20%) dragged the Nifty lower today.

In the broader ma...