The equity benchmarks opened lower on Monday as the BSE Sensex slided over 100 points in early trade, while the NSE Nifty50 dipped below the 25,450 mark.
The weak start came despite mixed global cues. Asian markets traded cautiously, and Gift Nifty signalled a muted opening, keeping traders on edge at the start of the week.
Gainers provide limited support, where select banking and auto stocks managed to trade in the green, helping limit deeper losses. On the gaining side, Power Grid and HDFC Bank featured among the top performers, providing some support to the broader market. However, buying interest remained selective, indicating cautious market participation.
Heavyweights in the IT sector were among the top losers in early trade. Infosys and ICICI Bank were among the top losers in morning trade, dragging the indices lower. Energy and select consumer stocks reeled under the selling pressure as investors continued to book profits after last week’s sharp correction.
Last Friday, the Nifty had dropped more than 300 points, driven by weakness in IT, energy, and consumer sectors. Monday’s soft opening suggests that investors are still assessing global trends and domestic triggers before taking fresh positions.
Unless strong buying emerges, markets may continue to trade in a narrow range with high volatility.
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