The Indian stock market opened on a weak note on Monday, tracking negative cues from global markets. The benchmark BSE Sensex fell by 676.86 points or 0.83 per cent to 80,774.15 in early trade, while the NSE Nifty declined by 181.15 points or 0.74 per cent to 24,568.25.
Selling pressure was visible in broader market indices as well, with the Nifty Midcap 100 index down 104 points or 0.18 per cent at 57,315 and the Nifty Smallcap 100 index falling 69 points or 0.39 per cent to 17,813.
In the Sensex pack, HUL, Adani Ports, IndusInd Bank, Nestle, SBI, Eternal (Zomato), Asian Paints and Power Grid were among the few gainers. On the losing side were major players including HDFC Bank, HCL Tech, Reliance Industries, Bajaj Finance, Infosys, Tata Steel and Tech Mahindra.
Analysts suggest that the current market structure supports a continuation of the ongoing consolidation phase. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that recent announcements by former US President Donald Trump, particularly the imposition of 50 per cent tariffs on steel and aluminium, point towards a turbulent global trade environment. He noted that such developments could weigh on investor sentiment in the near term.
Despite global uncertainties, domestic fundamentals remain strong. India’s GDP growth for the fourth quarter came in at 7.4 per cent, surpassing expectations and offering optimism for continued economic expansion. Analysts also highlighted positive trends in consumption and capital expenditure, along with low inflation and the likelihood of an accommodative monetary policy, as encouraging signs for FY26.
Sectorally, the market presented a mixed picture. IT, financial services, metal, media, services and commodities saw losses, while FMCG, PSU banks, real estate and energy stocks witnessed buying interest.
Asian markets traded mostly in the red, with Tokyo, Hong Kong, Jakarta and Seoul posting losses. The Shanghai market was shut for a public holiday. On Wall Street, the Dow Jones closed 0.31 per cent higher on Friday, while the Nasdaq dipped 0.32 per cent, reflecting mixed investor sentiment in the US.
Market experts believe that while the long-term outlook remains positive, a short-term phase of consolidation is currently underway as investors assess global developments and await further clarity on domestic policy trends.
-IANS
