Mumbai: Indian stock markets closed lower on Monday as selling pressure in heavyweight stocks and weak global signals pulled benchmarks down. Investors stayed cautious through the day, reacting to mixed corporate earnings and uncertain global developments.
At the end of the session, the Sensex fell 324.17 points, or 0.39 per cent, to close at 83,246.18. The Nifty declined 108.85 points, or 0.42 per cent, settling at 25,585.5.
Heavyweights Drag the Market
The fall in the benchmarks was mainly due to losses in select large-cap stocks. Shares of major companies such as Reliance Industries, ICICI Bank, and HDFC Bank came under selling pressure after their quarterly results, making them the biggest drags on the market.
Traders preferred to book profits, especially in stocks that had seen strong gains in recent weeks. This stock-specific selling kept the indices under pressure for most of the session.
Nifty Remains Weak Technically
From a technical point of view, the Nifty stayed weak throughout the day. The index remained below its 20-day Exponential Moving Average (EMA), showing that sellers were in control.
Market experts said immediate support for the Nifty is placed near 25,494, which was the day’s low. If the index breaks this level, it could slip further towards the 25,400–25,350 zone. On the upside, a strong recovery is possible only if the Nifty moves back above 25,600–25,700, analysts noted.
Global Cues Add to Caution
Global markets also sent negative signals. Investor sentiment turned weak after US President Donald Trump threatened to impose taxes on several European countries. This came amid opposition from some European nations to his proposal to acquire Greenland, adding to global uncertainty and keeping markets on edge.
Sector Performance Mixed
Sector-wise, realty, oil & gas, and media stocks saw sharp selling. The Nifty Realty index fell nearly 2 per cent, while Nifty Oil & Gas declined 1.56 per cent. The Nifty Media index also ended lower, down 1.84 per cent.
Some buying was seen in defensive sectors. The Nifty FMCG index rose 0.67 per cent, supported by select consumer stocks, while the Nifty Auto index edged up 0.13 per cent.
In the broader market, weakness continued. The Nifty Midcap 100 slipped 0.37 per cent, while the Nifty Smallcap index fell 0.99 per cent, underperforming the main indices.
Outlook Remains Cautious
Analysts said markets may stay range-bound as the Q3 earnings season progresses. With global uncertainties and mixed corporate results, investors are likely to remain selective, leading to continued volatility in the near term.
