Sensex Drops 247 Points, Nifty Ends Below 25,100 as IT Drags; Broader Markets Outperform.
Benchmark indices extended their losing streak on Monday, weighed down by a sharp sell-off in IT stocks amid global trade uncertainties. Gains in financials, pharma, and select defensive sectors were not enough to offset the overall negative sentiment.
The BSE Sensex fell 247.01 points to settle at 82,253.46, while the NSE Nifty50 shed 67.55 points to close at 25,082.30, slipping below the psychological 25,100 mark.
Aditya Gaggar, Director at Progressive Shares, attributed the decline to prevailing pessimism across Indian equities.
“Nifty50 started the week on a tepid note and compounded its losses to test the 25,000 level. On the daily chart, a bearish candle has formed. However, a hidden bullish divergence in RSI along with 50-DMA support suggests a possible trend reversal. The 24,970–25,000 zone will act as a strong support, while upside may remain capped around 25,325,” Gaggar noted.
Top Gainers & Losers
Among Sensex constituents, Eternal led the gainers with a 2.83% rise, followed by Titan (1.23%), Mahindra & Mahindra (0.56%), Sun Pharma (0.54%), and ITC (0.54%).
On the flip side, tech majors dragged the index down. Tech Mahindra fell 1.82%, Bajaj Finance slipped 1.54%, Infosys lost 1.53%, Asian Paints dropped 1.50%, and HCL Tech declined 1.41%.
Broader Market and Sectoral Trends
Despite weakness in the benchmarks, the broader market showed resilience. The Nifty Midcap100 rose 0.70%, Nifty Smallcap100 gained 1.02%, and India VIX, a measure of market volatility, edged up 1.37%.
Sectorally, gainers included:
Nifty Realty (+1.39%)
Nifty Media (+1.36%)
Nifty Healthcare (+1.00%)
Nifty Pharma (+0.83%)
Nifty PSU Bank (+0.73%)
Nifty Consumer Durables (+0.88%)
Nifty Auto, FMCG, and Metal also closed marginally higher.
On the losing side:
Nifty IT dropped 1.11%, extending recent underperformance.
Nifty Financial Services slipped 0.20%.
Nifty Private Bank ended slightly lower at -0.05%.
While the frontline indices continue to face pressure from global cues and IT sector weakness, strength in mid- and small-cap segments suggests selective buying interest remains intact. All eyes now turn to how Nifty reacts around the 25,000 support zone in the coming sessions.
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