As trading resumed post-weekend, India’s key stock indices launched into decline, with Sensex surrendering nearly 500 points early on, courtesy of subdued global sentiment. Monday’s open underscored persistent uncertainties gripping Dalal Street.
Sell-offs targeted heavyweights Reliance Industries, ICICI Bank, Wipro, Tata Motors Passenger Vehicles, and Cipla, infusing early weakness that cascaded across segments.
Sensex traded at 83,072, marking a 498-point or 0.60 percent retreat. Nifty followed suit, easing 134 points or 0.52 percent to 25,560. Midcap and smallcap indices dipped 0.40 percent and 0.48 percent respectively, signaling widespread caution.
Sector-wise, Pharma dropped 0.6 percent, IT 0.5 percent, Auto 0.4 percent, while Metals edged up 0.24 percent.
RIL shares tumbled over 2 percent, ignoring strong Q3 FY25-26 results. Wipro plummeted 7 percent-plus, with Tata Motors PV (-2.8%), Max Health (-2.9%), Infosys (-1%+), and Cipla (-0.9%) also reeling.
Gainers like Tech M, Indigo, Bajaj Finance, Trent, HUL, Kotak Bank, Axis Bank, BEL, and HDFC Life provided pockets of resilience.
Overseas, caution prevails due to U.S. President Trump’s 10 percent tariff proposal on eight European states, sparked by their resistance to his Greenland purchase idea. This has amplified global risk aversion.
Reviewing last week, Nifty navigated highs of 25,899 and lows of 25,473, ending at 25,694. Trading under 20/50-day EMAs yet above 200-day, medium-term positivity persists. Resistance at 25,875, 26,000, 26,100; supports 25,600, 25,450.
Experts recommend disciplined trading: cherry-pick strong fundamentals in dips, hold fire until Nifty convincingly clears 26,000 amid global headwinds.