Indian benchmark indices recovered sharply in the second half of Monday’s trade, with the BSE Sensex slumping nearly 500 points from its intraday low. Despite the recovery, the index closed lower as cautious sentiment continued to dominate amid rising geopolitical tensions and firm crude oil prices. The NSE Nifty also pared most of its losses but finished below the 24,150 mark.
The market opened on a weak note after concerns over the escalating conflict in the Middle East pushed global crude oil prices higher. The rise in oil prices renewed worries about inflation and increased costs for oil-importing countries like India, prompting investors to trim exposure to equities. Weak global cues further added to the pressure, dragging frontline indices lower during the morning session.
At one point, the Sensex was down more than 700 points before bargain buying in heavyweight stocks helped the market recover significantly. Although the rebound reduced the day’s losses, investors largely remained on the sidelines ahead of key corporate earnings and global developments.
Selling was seen across several sectors, with metals, financials and auto stocks witnessing the sharpest decline. Market participants also kept a close watch on crude oil prices, currency movements and overseas markets, all of which are expected to influence sentiment in the coming sessions.
Among individual stocks, L&T Finance and Just Dial emerged as the top gainers, supported by company-specific optimism and buying interest. On the other hand, Tata Steel and Adani Ports featured among the biggest laggards, as selling pressure persisted in metal and infrastructure counters.
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