Indian stock markets witnessed a volatile trading session on Monday, with benchmark indices Sensex and Nifty opening sharply lower amid weak global cues and rising crude oil prices. Investor sentiment remained cautious throughout the day due to concerns over international market uncertainty and energy price pressures.
In early trade, the Sensex fell over 800 points while the Nifty slipped below the 23,400 level, reflecting broad-based selling across sectors. The decline was largely driven by heavyweight stocks, which pulled the indices lower.
Among the major losers, Reliance Industries, HDFC Bank and ICICI Bank were the key drags on the market. Selling pressure in banking, financial services and energy stocks added to the overall weakness, as investors reacted to global risk factors and rising oil prices.
Despite the sharp fall, the market managed to recover part of its losses later in the session. Select buying in defensive and pharma stocks helped stabilise sentiment and prevented a deeper correction.
ITC and Sun Pharma were among the stocks that provided some support to the market. Their gains helped cushion the impact of broader selling and improved sentiment in the latter half of trading.
Market experts said that rising crude oil prices and global geopolitical uncertainty continued to weigh on investor confidence. India’s dependence on imported oil makes markets sensitive to any sharp movement in global crude prices, which can affect inflation and corporate earnings.
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