Monday proved challenging for Dalal Street, as the Indian stock market closed in negative territory. The Sensex tumbled 324.17 points (0.39%) to 83,246.18, while Nifty retreated 108.85 points (0.42%) to 25,585.50. Sectoral imbalances drove the day’s narrative, with profit-booking in select areas overshadowing gains elsewhere.
The decline was spearheaded by realty (-1.99%), media (-1.84%), and oil & gas (-1.56%) indices. Nifty Infra and Commodities also lagged, down 0.90% and 0.89%. These underperformers pulled the broader market lower, amid concerns over economic headwinds.
Consumer-facing sectors offered respite, as FMCG surged 0.67%, Consumption rose 0.15%, and Auto inched up 0.13%. Within Sensex constituents, standout performers were IndiGo, Tech Mahindra, HUL, Kotak Mahindra Bank, Maruti, Bajaj Finance, Trent, ITC, HCL Tech, Axis Bank, Bajaj Finserv, BEL, L&T, and Sun Pharma.
Dragging the index were ICICI Bank, Eternal, Titan, TCS, UltraTech Cement, NTPC, Infosys, Bharti Airtel, SBI, and HDFC Bank. Breadth remained weak across market caps: Nifty Midcap 100 shed 220.15 points (0.37%) to 59,647.65, and Nifty Smallcap 100 lost 171.60 points (0.99%) to 17,190.70.
SBI Securities’ Sudeep Shah analyzed the dip as stemming from renewed tariff fears, impacting sentiment from the outset. He identified 25,500-25,450 as pivotal Nifty support; sub-25,450 could open doors to 25,300. Resistance awaits at 25,700-25,730. Early trading saw Sensex at 83,072 (-498 pts, -0.60%) and Nifty at 25,560 (-134 pts, -0.52%).
Looking ahead, traders eye potential rebounds or deeper corrections, influenced by policy developments and corporate updates. This session encapsulates the market’s delicate balance in uncertain times.