Mumbai– After four consecutive sessions of gains, Indian equity markets pulled back on Monday as investors booked profits amid a lack of strong domestic triggers.
The benchmark Sensex fell 452 points, or 0.54%, to close at 83,606.46, after swinging between an intraday high of 84,099.53 and a low of 83,482.13. The Nifty 50 also lost ground, declining 120.75 points or 0.47% to settle at 25,517.05 after touching a high of 25,669.35 during the session.
Despite the weakness in headline indices, broader markets outperformed. The Nifty Midcap100 rose 0.6%, and the Nifty Smallcap100 added 0.52%, reflecting continued investor interest in mid- and small-cap segments.
Among the Sensex constituents, top losers included Axis Bank, Kotak Mahindra Bank, Maruti, Bajaj Finance, Reliance Industries, Tata Steel, and Bharti Airtel. On the flip side, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv, and Eicher Motors posted gains.
Sectoral performance was mixed. Public sector banks led the charge, with the Nifty PSU Bank index climbing 2.66%. Notable gainers included Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank, and Punjab & Sind Bank.
Other sectors such as IT, Consumer Durables, Pharma, Healthcare, Media, and Energy ended in the green. However, several key indices slipped, including Nifty Auto, Bank, Financial Services, FMCG, Metal, Realty, Private Bank, and Oil & Gas.
Vinod Nair, Head of Research at Geojit Financial Services, said that despite improving global sentiment due to easing tensions in the Middle East and optimism surrounding a potential U.S. trade agreement, Indian markets took a breather after a strong rally.
“Investor focus has now shifted to the upcoming corporate earnings season. Mid- and small-cap stocks are displaying resilience, driven by expectations of robust consumer demand and margin improvement,” Nair noted.
Market volatility edged higher, with the India VIX rising 3.2% to close at 12.78.
Meanwhile, the Indian rupee weakened, closing near 85.70 against the U.S. dollar, down 0.21%. Analysts attributed the decline to broader capital market weakness and profit-taking after recent rupee gains.
“The rupee is under pressure ahead of a pivotal week featuring key U.S. data releases and the conclusion of the 90-day extended tariff deadline. We expect volatility in the 85.35–86.00 range,” said Jateen Trivedi, Analyst at LKP Securities. (Source: IANS)
