The benchmark equity indices ended Monday’s trading session in the negative territory. The NSE Nifty 50 lost 343 points or 1.46% to settle at 23,088.45, while the BSE Sensex slumped 1,030.32 points or 1.33% to end the day at 76,348.59.
The broader indices nosedived on Monday, the Nifty Midcap 100 closed the session 4% lower at 52,383.65. All the sectoral indices closed the session in the red. The Nifty Realty was the major loser, falling 6.6% to close at 899.75.
Sectoral Index
Bank Nifty index declined 683.55 points or 1.40% to settle at 48,050.60. In the broader markets, micro-cap and small-cap stocks shed the most. The volatility index India VIX surged 6.92% to 15.95.
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Adani Enterprises, Trent, BPCL, BEL, and Power Grid were the five major losers in the Nifty 50. Meanwhile, HDFC Bank, ICICI Bank, M&M, Trent, and L&T were the significant movers of the Nifty 50.
According to market experts, the fall in domestic markets came after the strength of the US dollar lured foreign investors towards the US markets as it has driven up bond yields. Also, the recent GDP downgrades and slowing earnings amidst higher valuation of Indian markets weighed the market sentiments, said Vinod Nair, Head of Research at Geojit Financial Services. “Expect volatility in the near term, with the 2025 budget, Q3 results, RBI policy, and Trump’s policies are key factors to define the trend in the short-term.”
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“If the Nifty sustains above 23,000 over the next few days, it could signal a potential recovery. Conversely, a decisive fall below this level might trigger a deeper correction,” said Rupak De, Senior Technical Analyst at LKP Securities.
Experts on Today’s Market Performance
“The global markets witnessed a significant sell-off, prompting a similar response in domestic markets due to strong US payroll data suggesting fewer rate cuts in 2025,” said Vinod Nair,
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