India’s benchmark indices fell on Monday, dragged down by selling across the IT, PSU banks, and pharmaceutical sectors.
The Sensex slipped 333.13 points, or 0.43%, to 77,247.18, while the Nifty declined 98.70 points, or 0.42%, to 23,434.00 by 9:51 AM. Market breadth was negative, with 1,794 stocks declining and only 572 gaining, indicating broad-based selling pressure.
Sector-wise, the Nifty Bank gained 21.25 points (0.04%) to 50,200.80. However, the Nifty Midcap 100 dropped 212.65 points (0.39%) to 53,830.45, while the Nifty Smallcap 100 saw a sharp fall of 183.85 points (1.04%) to 17,417.20.
Among the top gainers were HDFC Bank, Bajaj Finance, Tata Steel, Asian Paints, L&T, Sun Pharma, Adani Ports, M&M, and JAW Steel. On the losing side, IT heavyweights such as Infosys, HCL Tech, Tech Mahindra, and TCS, along with NTPC, Axis Bank, and Tata Motors, pulled the market lower.
With no immediate signs of recovery, market experts advised investors to remain cautious. They cited continued foreign institutional investor (FII) selling, earnings downgrades for many stocks for FY25, and the uncertain impact of global events, including the Donald Trump trade, as factors weighing on the market.
(With inputs from IANS)