MUMBAI, India — Indian equity benchmarks extended their decline for a fourth consecutive session on Monday, as heavy selling in information technology, realty, pharmaceutical, and auto stocks kept markets under pressure.
The Sensex closed at 84,695.54, down 345.91 points, or 0.41 percent, while the Nifty ended 100.20 points lower at 25,942.10, a decline of 0.38 percent.
Market participants said sustained selling dragged the Nifty below the key 26,000 level as well as its 20-day exponential moving average, with volatility picking up ahead of the monthly derivatives expiry.
Analysts noted that the index formed bearish candlestick patterns, signaling short-term selling pressure, even as it continues to hover near important near-term moving averages. A decisive break below the 25,900 level could open the door for further downside toward the 25,800–25,700 range, according to technical experts.
On the Sensex, Power Grid, Trent, HCL Technologies, and BEL were among the major laggards, contributing significantly to the index’s losses. Buying interest, however, emerged in select stocks, with Tata Steel, Asian Paints, Hindustan Unilever, Eternal, NTPC, and Axis Bank closing higher.
Broader markets also remained weak. The Nifty Midcap 100 slipped 0.52 percent, while the Nifty Smallcap 100 fell 0.72 percent, reflecting continued risk aversion among investors.
Sectorally, IT, realty, and auto stocks bore the brunt of selling. The Nifty IT index declined 0.75 percent, while the Realty and Auto indices dropped 0.67 percent and 0.53 percent, respectively.
Some defensive pockets showed resilience. The Nifty Media index gained 0.93 percent, while PSU Bank and FMCG indices edged up marginally.
Market watchers said sentiment remains cautious as investors trim positions amid sector-specific weakness and the absence of strong positive triggers. They added that steady domestic liquidity and relatively strong macroeconomic fundamentals are helping limit deeper losses, even as global uncertainties related to interest rates and geopolitical tensions continue to curb aggressive risk-taking. (Source: IANS)
