Sensex Falls Over 500 Points, FMCG And PSU Bank Stocks Lead Broad Market Decline

Mumbai: Benchmark equity indices ended sharply lower on Monday, dragged down by losses in FMCG, PSU banking, auto and realty stocks.

The decline came as investors remained cautious amid global developments, including reports of possible diplomatic progress between the United States and Iran.

Sensex and Nifty End Lower

The Sensex fell 508.40 points, or 0.68 percent, to close at 74,267.34.

The Nifty declined 165.15 points, or 0.7 percent, to settle at 23,382.60.

Broader markets also witnessed selling pressure during the session.

The Nifty Midcap 100 index dropped 1.45 percent, while the Nifty Smallcap index ended 0.88 percent lower.

FMCG Stocks Lead Losses

The Nifty FMCG index emerged as the worst-performing sector of the day.

Selling was also seen in PSU banking, auto and realty stocks, adding pressure on the broader market.

Among Nifty stocks, Hindustan Unilever, Shriram Finance and Tata Consumer Products were among the biggest losers.

Other major laggards included ITC and NTPC.

On the Sensex, shares of Hindustan Unilever, ITC, NTPC, Mahindra & Mahindra, Kotak Mahindra Bank and Bajaj Finance fell by as much as 2.83 percent.

IT Stocks Provide Some Support

Despite the broader weakness, information technology stocks offered some support to the market.

Tech Mahindra, Infosys, Tata Consultancy Services (TCS) and HCL Technologies were among the top gainers on the Sensex.

The Nifty IT, Metal and Media indices also outperformed the broader market and helped limit overall losses.

Key Levels to Watch

Market experts said the 23,500 level is likely to act as an immediate resistance zone for the Nifty after the recent breakdown.

A stronger resistance area is seen between 23,600 and 23,750.

On the downside, analysts believe the fall below 23,500 has weakened the near-term market structure and opened the possibility of further declines towards the 23,300-23,250 support zone.

Focus on Global and Domestic Triggers

Investors continued to monitor global developments after US President Donald Trump indicated that Washington was pursuing an agreement with Iran aimed at ensuring Tehran does not acquire nuclear weapons.

Market participants are also awaiting key domestic triggers, including the upcoming Reserve Bank of India (RBI) monetary policy decision and the latest GDP growth data, which could influence market direction in the coming days.