Indian equity markets closed sharply lower on Monday, with the Sensex and Nifty tumbling over 1% each as weak global cues triggered broad-based selling pressure, particularly in IT stocks.
The BSE Sensex dropped 856.65 points, or 1.14%, to settle at 74,454.41, while the NSE Nifty declined by 242.55 points, or 1.06%, closing at 22,553.35 after hitting an intraday high of 22,668.05 and a low of 22,518.80.
The sharp decline was led by IT heavyweights, with Wipro, HCL Tech, TCS, Infosys, and Bharti Airtel among the worst performers, posting losses of up to 3.7%.
Market experts attributed the downturn to ongoing global headwinds and volatility, which have heightened uncertainty among retail investors with a lower risk appetite. Concerns over weak US consumer sentiment and potential tariff measures further weighed on export-driven sectors like IT.
Despite the bearish sentiment, a few stocks managed to defy the trend. Mahindra & Mahindra, Dr. Reddy’s Laboratories, Eicher Motors, Hero MotoCorp, and Nestle India were among the 12 Nifty stocks that closed in positive territory, gaining up to 1.54%. On the BSE index, top gainers included Happiest Minds Technologies, Data Patterns, JSW Holdings Limited, Orchid Pharma, and Vesuvius India.
Broader markets mirrored the negative sentiment, with the Nifty Smallcap100 and Nifty Midcap100 slipping 1.02% and 0.94%, respectively. Sector-wise, all indices ended in the red, except for Auto and FMCG, which managed to hold on to modest gains.
-IANS
