MUMBAI– Indian equity benchmarks closed slightly lower on Monday as cautious investors awaited signals from the U.S. Federal Reserve’s upcoming policy meeting. The session remained largely range-bound, with optimism over strong domestic consumption and a potential earnings rebound tempering losses.
The Sensex slipped 118.96 points, or 0.15 percent, to finish at 81,785.74. The 30-share index opened flat at 81,925.51 and fluctuated between an intraday high of 81,998.51 and a low of 81,744.70. The Nifty 50 settled at 25,069.20, down 44.80 points, or 0.18 percent, snapping an eight-day winning streak.
“Benchmark indices traded largely flat as investors remained cautious ahead of the Fed policy meeting, with the IT index witnessing profit booking after last week’s rally. While a 25-basis-point rate cut is largely priced in, markets are waiting for guidance on the Fed’s future rate path to assess the trajectory for bond yields,” analysts said.
Domestic sentiment, however, remained supported by robust consumption trends following the GST overhaul, renewed optimism on trade agreements, and expectations of an earnings recovery in the second half of FY26.
Among Sensex laggards were Asian Paints, Mahindra & Mahindra, Titan, Infosys, Sun Pharma, TCS, and Tech Mahindra. Gainers included Bajaj Finance, L&T, Adani Ports, and Eternal.
Sectorally, Nifty Fin Services rose 29 points, or 0.11 percent, and Nifty Bank added 78 points, or 0.14 percent. Nifty IT, Nifty FMCG, and Nifty Auto ended in the red. Broader indices outperformed, with the Nifty Small Cap 100 advancing 137 points, or 0.76 percent, and the Nifty Midcap 100 climbing 258 points, or 0.44 percent. The Nifty 100 finished flat.
Analysts noted that a decisive move above 25,150 on the Nifty could spark short covering and open the way toward the 25,300 zone. Given recent gains, some profit-taking at higher levels was expected. “The preferred strategy remains buying on dips,” they said. (Source: IANS)
