Stock Market Today: Sensex Sheds 548 Points, Nifty Closes Below 22,400

Indian benchmark equity indices closed sharply lower on Monday as selling pressure in fast-moving consumer goods (FMCG), public sector bank and information technology stocks dragged the market down.

The Sensex shed 547.65 points, or 0.76 per cent, to settle at 71,924.68. The Nifty declined 157.10 points, or 0.70 per cent, to close at 22,363.35.

Market analysts said the Nifty failed to sustain levels above 22,600, turning its positive opening into another session dominated by selling on rallies.

“The PCR slipped to 0.61, pointing to call-heavy positioning, while India VIX climbed to 15.23, signalling increased demand for downside protection,” analysts said.

Analysts identified the 22,300–22,200 range as immediate support. A decisive break below this zone could expose the index to the 22,000 level. On the upside, the Nifty needs to reclaim the 22,500–22,600 band to sustain a recovery.

Apollo Hospitals Enterprise, ITC and Tech Mahindra ranked among the biggest laggards on the Nifty.

Broader markets showed resilience despite losses in frontline indices.

The Nifty MidCap index edged up 0.08 per cent, while the Nifty SmallCap index gained 1.42 per cent.

The Nifty FMCG and Nifty PSU Bank indices recorded the steepest sectoral losses.

In contrast, the Nifty Media and Nifty Chemical indices ended among the leading gainers.

Market watchers cited continuing Houthi attacks on Saudi and regional energy infrastructure as a concern, warning that potential supply disruptions could keep crude oil prices elevated.

Foreign fund selling weighed on large-cap stocks, while mid- and small-cap shares benefited from expectations of stronger second-quarter earnings in FY27.

Losses in heavyweight stocks kept the benchmark indices in negative territory.

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