Stock market recap, Sept. 1 -- Benchmark equity indices, Sensex and Nifty 50, closed lower on Monday due to selling in IT and FMCG shares as renewed tensions in West Asia triggered a rally in crude oil prices.

The 30-share BSE Sensex declined 307.24 points, or 0.40%, to settle at 76,957.27 with 20 of its constituents ending lower and 10 with gains. The 50-share NSE Nifty dropped 95.25 points, or 0.39%, to end at 24,080.40.

Among the 30 Sensex firms, Adani Ports, ITC, Bharti Airtel, HDFC Bank, Infosys and Kotak Mahindra Bank were the major laggards.

Sun Pharma, ICICI Bank, Axis Bank and State Bank of India were among the gainers.

Brent crude jumped 3.63% to $91.30 a barrel.

Two stock recommendations by MarketSmith India:

Buy: Tata Te...