Indian stock markets closed lower on Monday, with the Sensex dropping 610 points to 54,320 and the Nifty 50 falling 225 points to 25,960. Investors appeared cautious ahead of a busy week packed with upcoming IPOs, while global cues remained mixed.
Most sectors reflected broad weakness, with auto, banking, financial services, FMCG, metals, pharma, PSU banks, realty, private banks, healthcare, consumer durables, oil & gas, mid- and small-cap, and chemicals showing softness. Only select pockets like IT and media demonstrated mild resilience, hinting at selective optimism amid overall market hesitation.
Among individual stocks, Bharat Electronics (BEL) led the losses with a 5% drop, followed by Eternal Industries, which fell 2%. On the upside, Kesoram Industries surged nearly 20% after a block deal exit by the Birla family. Other gainers included some IT and media names that managed to stay afloat despite the overall weak trend.
The Indian rupee closed marginally lower at 90.07 against the US dollar, weakening 0.1% from the previous session. Global markets saw mixed movements, with S&P 500 futures rising 0.2% and Nasdaq futures up 0.3%, while Hong Kong’s Hang Seng fell 1%. Asian indices like Japan’s Topix and Shanghai Composite recorded modest gains.
Market participants cited cautious sentiment ahead of key economic data and corporate earnings announcements this week. Analysts suggested that while select sectors may offer short-term opportunities, investors should remain watchful given the broader global and domestic uncertainties.
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