Sensex, Nifty trade in red, slip down over 0.4%
Market breadth was negative, with 1,794 stocks declining compared to only 572 that advanced, indicating widespread selling.
Sensex, Nifty trade in red, slip down over 0.4%
India’s benchmark indices declined on Monday, primarily due to selling pressure in the IT, PSU banks, and pharmaceutical sectors. The Sensex fell by 333.13 points, or 0.43%, to settle at 77,247.18, while the Nifty dropped 98.70 points, or 0.42%, to 23,434.00 by 9:51 AM.
Market breadth was negative, with 1,794 stocks declining compared to only 572 that advanced, indicating widespread selling.
Among the sectors, the Nifty Bank saw a marginal gain of 21.25 points (0.04%), reaching 50,200.80. In contrast, the Nifty Midcap 100 decreased by 212.65 points (0.39%) to 53,830.45, and the Nifty Smallcap 100 experienced a significant drop of 183.85 points (1.04%), falling to 17,417.20.
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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, TCS, 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 downgrade for many stocks for FY25, and the uncertain impact of global events, including the Donald Trump trade, as factors weighing on the market.
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