The Sensex at the Bombay Stock Exchange on Monday lost 119 points or 0.7 percent to close at 16, 601. Similarly, the Nifty at the National Stock Exchange index lost 35 points to close the day at 4,953.The market lacked necessary support from foreign investors, who are offloading their holdings before the long Christmas and year-end holidays.In Asia, Hong Kong, Singapore and South Korea landed in negative terrain at close while China, Japan and Taiwan closed with marginal gains.