MUMBAI, India — Indian equity markets ended lower on Monday after a volatile trading session, with selling pressure in information technology and oil and gas stocks weighing on investor sentiment.
Markets also remained cautious amid mixed global cues following a U.S. military operation in Venezuela that led to the capture of President Nicolas Maduro.
The Nifty closed at 26,250.30, down 78.25 points, or 0.3 percent. Analysts said the 26,300–26,350 range now represents a key resistance zone, with a sustained breakout above that level potentially reviving bullish momentum and opening the way toward 26,500 in the near term.
On the downside, a decisive move below 26,200 could trigger a corrective slide toward the 26,050–26,000 range, according to market participants.
The Sensex also finished in negative territory, settling at 85,439.62, down 322.39 points, or 0.38 percent.
Earlier in the session, benchmarks had moved higher, with the Nifty touching a fresh record high of 26,373.20. However, the gains proved short-lived as investors booked profits at elevated levels, leading to a pullback in the latter half of the trading day.
Heavyweight stocks including HDFC Bank, Infosys, HCLTech, Bajaj Finance and TCS were among the top laggards on the Sensex, dragging the broader indices lower.
In contrast, shares of Bharat Electronics, Hindustan Unilever, Tata Steel, UltraTech Cement and Axis Bank provided some support and ended the session among the top gainers.
The broader market delivered a mixed performance. The Nifty Midcap index ended marginally lower by 0.16 percent, while the Nifty Smallcap index declined 0.53 percent.
Sectorally, technology and oil and gas stocks saw the most pressure, with the Nifty IT and Nifty Oil and Gas indices falling about 1 percent each. Real estate stocks outperformed, with the Nifty Realty index rising more than 2 percent.
FMCG and consumer durable stocks also closed higher, reflecting continued buying interest in defensive and consumption-oriented sectors.
Looking ahead, market participants said third-quarter earnings will remain the key driver of near-term trends, with overall sentiment staying moderately positive. (Source: IANS)
