Stock Market Today: Sensex Falls 443 Points, Nifty Ends Below 24,250

Benchmark equity indices ended lower on Monday as banking stocks and US-Iran tensions weighed on sentiment, with the Sensex falling 443 points to 77,708.52 and the Nifty declining 96 points to 24,238.50.

Market experts said the Nifty continues to face immediate resistance in the 24,300-24,400 range, with the upper end of the zone coinciding with the 200-day Exponential Moving Average (EMA).

A sustained breakout above this level could strengthen bullish momentum and push the index towards the 24,500-24,600 range. On the downside, however, analysts identified 24,100 as the immediate support level.

A decisive fall below this mark could trigger fresh profit booking and pull the index towards the key psychological support of 24,000.

Heavyweight banking and financial stocks led the decline, with Axis Bank, HDFC Bank and Maruti Suzuki India emerging among the biggest losers on the Nifty.

Despite losses in the benchmark indices, the broader market outperformed, with the Nifty MidCap rising 0.6 per cent and the Nifty SmallCap gaining 0.16 per cent.

Pharma and PSU Bank stocks advanced, while Private Bank and Financial Services indices led the declines.

Analysts said investors remained cautious as the US-Iran conflict entered its ninth day, with tensions focused on the Strait of Hormuz. They expect geopolitical developments, corporate earnings and key technical levels to guide market sentiment in the coming sessions.

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