The Indian stock market closed lower on Monday, with both benchmark indices ending the session in the red. The Sensex settled lower at 74,115.17, down by 0.29, while the Nifty 50 also dropped to 22,460.30, declining by 0.41. The Nifty Bank index followed suit, closing at 48,216.80, down by 0.58%.
“Global headwinds continue to drag the market sentiment, with the rise in US unemployment rates and tariffs leading to uncertainty, indicating that volatility is here to stay for the near term. The domestic macros are favouring investors to start accumulating the beaten-down stocks with caution in the short term, while the long term appears attractive. A slew of economic indicators this week, US and India CPI data, will be keenly watched by investors for any ease in the current volatility,” said Vinod Nair, Head of Research, Geojit Financial Services.
Broader marker sees sharp cuts
Midcap and smallcap stocks took a bigger hit compared to the frontline indices. The Nifty Midcap 100 fell 1.4%, while the Nifty Smallcap 100 dropped 2%. On the other side, the BSE Midcap fell 1.46% and BSE small cap down 2.11%.
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Several heavyweight stocks ended in negative territory. IndusInd Bank, Zomato, Larsen & Toubro, Titan, and Mahindra & Mahindra were among the top losers on the Nifty 50, while Power Grid, Hindustan Unilever, Infosys, Nestlé India, and ITC managed to end in the green.
Sectoral performance: FMCG stays resilient
Barring the FMCG sector, all other indices witnessed a decline. Sectors such as Auto, Consumer Durables, Capital Goods, Oil & Gas, Realty, and PSU Banks saw losses ranging between 1-2%, dragging the overall market sentiment lower.
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