Benchmark indices Sensex and Nifty witnessed selling pressure after a recent recovery as weak global cues and selling in private banks and IT stocks weighed on investor sentiment. The 30-share BSE Sensex closed 876.37 points or 1.17 per cent lower at 73,852.90. During the day, the benchmark hit a high of 74,849.75 and a low of 73,708.54, gyrating 1,141.21 points. Similarly, the 50-share NSE Nifty fell 257.20 points, or 1.11 per cent, to close at 22,888.95. The broader market too ended the session in the red. The BSE MidCap Select Index fell 169.47 points, or 0.97 per cent, while the BSE SmallCap Select Index fell 47.10 points, or 0.53 per cent.
Among sectoral indices, Nifty PSU Bank was the biggest gainer, up 2.46 per cent. Meanwhile, Nifty FMCG fell 1.44 per cent.
“While markets witnessed resilience last week due to falling crude prices and a strengthening rupee, selling returned amid weak global cues and persistent FII fund outflows from domestic equities. Markets will likely remain volatile going ahead as higher crude oil prices, uncertainty surrounding the US-Iran conflict and elevated US bond yields would drive investors toward safe-haven assets and prompt them to offload equity holdings,” said Ankur Punj, Managing Director, Equirus Wealth.
Top gainers and losers
Among the 30-Sensex firms, State Bank of India, Adani Ports, L&T, Indigo and Maruti were the major gainers, with SBIN gaining 1.12 per cent today. On the flip side, Axis Bank, UltraTech Cement, Infosys, Bajaj Finance, and Tretn were among the laggards. The shares of Axis Bank fell 3.85 per cent today.
Today, 5 of 30 Sensex companies closed in the green, while the remaining 25 closed in the red. Meanwhile, 9 of 50 Nifty 50 companies also closed in the green, while the other 41 closed in the red.
Rupee falls 3 paise
Meanwhile, the rupee pared its initial gains and settled lower by 3 paise for the day at 94.92 (provisional) against the US dollar on Monday, weighed down by a sharp fall in the domestic equity markets and a recovery in crude oil prices. The rupee snapped its six-session winning streak and settled in negative territory amid continued pressure from foreign institutional investor (FII) outflows and elevated crude oil prices.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
