Indian stock markets closed lower on Monday as losses in major private banking stocks and growing tensions in the Middle East weakened investor sentiment. Concerns over weaker-than-expected quarterly earnings from some lenders and uncertainty in global markets also weighed on trading.
The BSE Sensex fell 442.93 points, or 0.57%, to close at 77,708.52. The NSE Nifty 50 declined 95.80 points, or 0.39%, to finish at 24,238.50.
Private banking stocks led the decline after quarterly earnings raised concerns about pressure on profitability.
Axis Bank dropped 5.48%, while HDFC Bank fell 5.12%. Maruti Suzuki India also ended 2.18% lower.
Some stocks, however, posted gains. Trent rose 2.98%, while Power Grid Corporation gained 1.82% and NTPC advanced 1.57%.
Market experts said Monday’s decline largely reflected profit booking after the recent rally rather than a major change in the overall market trend.
They said the broader outlook remains positive as long as key support levels hold. Investors may continue to look for buying opportunities on market dips while maintaining careful risk management.
The broader market outperformed the benchmark indices. The Nifty Midcap 50 gained 0.61%, while the Nifty Smallcap 100 added 0.16%.
Among sectoral indices, Nifty Media rose 1.09%, followed by Nifty Consumer Durables, up 0.72%. Nifty Auto slipped 0.26%, while Nifty IT lost 0.22%.
The India VIX, which measures expected market volatility, fell 1.29%, indicating that overall market volatility remained relatively stable despite the decline.
Investors also monitored the ongoing conflict in the Middle East, which continued to raise concerns about global energy supplies and crude oil prices.
Analysts said geopolitical developments, along with upcoming corporate earnings, are likely to influence market sentiment in the coming days.
Despite Monday’s losses, analysts believe the broader market trend remains positive. Investors are expected to closely watch quarterly earnings, crude oil prices and developments in the Middle East, as these factors are likely to shape market direction in the near term.
Disclaimer: This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
