Indian equity indices closed deep in the red on Monday due to profit booking at higher levels. Sensex dropped 1,272 points, or 1.49%, to 84,299, while Nifty fell 368 points, or 1.41%, to 25,810. The decline was driven by a sharp fall in banking stocks, with Nifty Bank closing at 52,978, down 856 points or 1.59%.
The market cap of all BSE-listed companies declined by Rs 4 lakh crore, now standing at Rs 474 lakh crore. In the Sensex pack, JSW Steel, NTPC, Tata Steel, Titan, and Asian Paints were the top gainers. Major losers included Reliance, Axis Bank, ICICI Bank, and Infosys. Sectorally, auto, IT, and pharma stocks led the decline, while metal and media indices remained in the green.
Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty slipped sharply after a brief pause, breaking its consolidation pattern. De noted potential weakness ahead, with support at 25,750 and resistance at 26,000. FIIs turned net sellers, offloading Rs 1,209 crore worth of equities, while domestic investors bought Rs 6,886 crore on September 27.
Also Read: Fidelity Slashes Valuation Of Elon Musk’s X By Nearly 79%
The top court took suo motu cognizance after media reports highlighted large-scale deforestation in the…
Uttar Pradesh Chief Minister Yogi Adityanath, on Thursday, firmly addressed the issue of land encroachment…
Thai PM presented PM Modi with 'The World Tipitaka: Sajjhaya Phonetic Edition', highlighting India-Thailand cultural…
The Indian stock market closed lower on Thursday as investors remained cautious after US President…
The Supreme Court has refused to lift the ban on the manufacture, storage, and sale…
Donald Trump’s executive order has raised tariffs on Indian imports by 27%, prompting India’s Commerce…