Indian frontline indices closed deep in the red on Monday as investors exercised caution due to the escalating Middle East conflict. The Sensex dropped 638 points, or 0.78%, to settle at 81,050, while the Nifty shed 218 points, or 0.87%, to close at 24,795.
The market capitalization of all companies listed on the Bombay Stock Exchange (BSE) fell by ₹9 lakh crore, reducing the total to ₹452 lakh crore from ₹461 lakh crore at Friday’s close. ITC, Bharti Airtel, M&M, Infosys, Bajaj Finance, TCS, and Tech Mahindra were the top gainers, while NTPC, SBI, Power Grid, Axis Bank, Reliance, and others led the losses.
All indices except IT closed in the red, with sectors like auto, PSU banks, pharma, metal, and energy being major losers. Midcap and smallcap stocks faced significant selling pressure. The Nifty Midcap 100 index fell by 1,174 points, or 2.01%, to 57,300, while the Nifty Smallcap 100 dropped by 515 points, or 2.75%, to 18,242.
Market experts suggest Indian markets have entered a consolidation phase, at risk of underperforming against Asian peers. Premium valuations, foreign institutional outflows, and rising oil prices are intensifying challenges, especially with global arbitrage favoring Chinese markets.
Also Read: RBI Likely To Keep Repo Rate Unchanged Amid Geopolitical Tensions: Experts
Dallewal, a 70-year-old cancer patient, is protesting to demand legal guarantees for minimum support price…
India and China have decided to take significant steps to enhance cross-border cooperation, including the…
Dharmendra Pradhan delivered a speech highlighting the importance of constitutional rights, particularly in the 75th…
At least 13 people died and 108 were rescued from the Arabian Sea on Wednesday…
Activist Umar Khalid, jailed since September 2020, has once again sought bail in connection with…
Uttarakhand will become the first Indian state to implement the Uniform Civil Code (UCC). Chief…