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%
In a statement, Rai explained that the Green War Room is a key component of…
During the proceedings, senior advocate Abhishek Manu Singhvi, representing Atishi and Kejriwal, argued that criminal…
Several activities, including rallies, nutrition fairs, cooking demos, and nutrition counseling, were held across slums…
BCCI Vice-President Rajeev Shukla stated that no decision has been made regarding India’s participation. "We…
The court had previously banned bulldozer actions across India in response to a petition filed…
The agenda will cover significant bilateral and global issues, including the Russia-Ukraine conflict and the…