MUMBAI, India — Indian equity benchmarks ended lower on Monday as selling pressure in heavyweight stocks and cautious global cues dragged markets down, with investors reacting to mixed quarterly earnings and rising international uncertainty.
The Sensex closed at 83,246.18, down 324.17 points, or 0.39 percent, while the Nifty settled at 25,585.5, falling 108.85 points, or 0.42 percent.
Market weakness was largely driven by stock-specific declines following quarterly results from major companies, including Reliance Industries, ICICI Bank, and HDFC Bank, which emerged as the biggest drags on the benchmarks.
The Nifty remained under bearish pressure throughout the session, staying below its 20-day exponential moving average. Analysts said immediate support for the index is seen at 25,494, the day’s low, followed by a stronger support zone between 25,400 and 25,350.
“Intraday action reflects profit booking and underlying weakness, leaving Nifty vulnerable to further downside unless a sharp rebound emerges above the 25,600–25,700 zone,” an analyst said.
Global sentiment remained cautious after U.S. President Donald Trump threatened to impose taxes on several European countries. The comments followed opposition from some European nations to his bid to acquire Greenland, adding to uncertainty in global markets and weighing on investor confidence.
Sectorally, realty, oil and gas, and media stocks faced notable selling pressure. The Nifty Realty index slipped nearly 2 percent, while the Nifty Oil & Gas index declined about 1.56 percent. The Nifty Media index also ended sharply lower, down 1.84 percent.
Some buying interest was seen in defensive pockets. The Nifty FMCG index gained 0.67 percent, supported by select consumer stocks, while the Nifty Auto index edged up marginally by 0.13 percent.
Broader markets also remained weak. The Nifty Midcap 100 index closed 0.37 percent lower, while the Nifty Smallcap index underperformed, falling 0.99 percent.
Analysts said investors remained cautious amid mixed corporate earnings and global uncertainties, leading to a subdued close for Indian equities.
“With the Q3 earnings season progressing, stock-specific volatility is likely, particularly where performance has been mixed,” an analyst said. “Given the blend of global uncertainty and domestic triggers, markets are expected to remain in a consolidation zone.” (Source: IANS)
