After four consecutive sessions of gains, benchmark equity indices ended lower on Monday as investors chose to book profits in the absence of strong domestic cues.
The BSE Sensex declined by 452 points, or 0.54 per cent, to settle at 83,606.46. The index oscillated between an intra-day high of 84,099.53 and a low of 83,482.13. The NSE Nifty also lost ground, shedding 120.75 points, or 0.47 per cent, to close at 25,517.05, after moving within a narrow range through the session.
Despite the subdued performance of the headline indices, the broader market continued to display resilience. The Nifty Midcap100 rose by 0.6 per cent, while the Nifty Smallcap100 added 0.52 per cent, suggesting sustained investor interest in mid- and small-cap stocks.
Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Finance, Reliance Industries, Tata Steel and Bharti Airtel were among the major laggards. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv and Eicher Motors recorded notable gains.
Sectorally, performance was mixed. PSU banks outperformed, with the Nifty PSU Bank index jumping 2.66 per cent. Shares of Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank and Punjab & Sind Bank advanced sharply during the session.
Other sectors including IT, consumer durables, pharma, healthcare, media and energy indices ended in positive territory. However, indices tracking automobiles, banking, financial services, FMCG, metals, realty, private banks and oil & gas sectors closed in the red.
Vinod Nair, Head of Research at Geojit Financial Services, observed that while global cues have turned marginally positive on hopes of easing geopolitical tensions and progress in a potential US trade agreement, the domestic market paused to consolidate recent gains.
“Investors are now looking ahead to the upcoming corporate earnings season, with mid- and small-cap segments showing strength in anticipation of improved results supported by healthy consumer demand and better margins,” he said.
The India VIX, which measures market volatility, rose by 3.2 per cent to 12.78, indicating a slight uptick in investor caution.
Meanwhile, the rupee weakened by 0.21 per cent to trade near 85.70 against the US dollar, as profit booking and long unwinding weighed on the currency following recent gains.
“The rupee came under pressure ahead of a crucial week marked by key US data releases and the expiry of the 90-day extended tariff deadline. The domestic unit is expected to remain volatile in the 85.35–86.00 range,” said Jateen Trivedi, VP Research Analyst at LKP Securities.
-IANS