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
Justice Amit Mahajan said that even if DNA proves the accused is the biological father…
The SC allowed Yasin Malik to cross-examine prosecution witnesses via video conferencing from Tihar jail,…
The Delhi HC directed Customs Department officials not to confiscate old or personal jewellery worn…
Prime Minister Narendra Modi on Friday unveiled a 21-point action plan at the BIMSTEC Summit…
PM Modi has been at the forefront of strengthening India’s ties with Buddhist nations, putting…
Turmeric milk, often referred to as 'golden milk', has been a staple in traditional medicine.…