The Indian equity markets experienced a significant decline on Monday, with the BSE Sensex dropping 1,100 points to reach 78,600, while the Nifty 50 fell to 23,900.
Opening Trends
At the opening bell, the BSE Sensex was down 150 points (0.19%) at 79,573. The Nifty 50 also saw a decline, dropping 100 points (0.41%) to 24,204.
Sector Performance
On the Sensex, only four stocks—Mahindra & Mahindra (down 2.50%), Tech Mahindra, HCLTech, and IndusInd Bank—managed to stay in the green. In contrast, notable losers included Sun Pharma (down 2.74%), Infosys, Reliance Industries, Adani Ports, and Tata Motors.
The Nifty 50 mirrored this trend, with just eight out of 50 stocks trading positively. Mahindra & Mahindra led the gains, up 2.07%, followed by Tech Mahindra and Eicher Motors. Meanwhile, Sun Pharma saw a sharper decline of 3.54%, along with losses in Bajaj Auto, Infosys, Trent, and Adani Ports & SEZ.
Sector Indices
All sectoral indices were in the red, with the Media index being the largest loser at 1.72%. The Oil & Gas and Consumer Durables sectors also faced declines. The Nifty Bank index fell by 0.55%, and the Financial Services index decreased by 0.67%.
Broader Market
Broader market indices were muted as well, with the Nifty Smallcap 100 declining 1.13% and the Nifty Midcap 100 down by 0.73%.
Global Context
This market movement comes against the backdrop of the upcoming US presidential elections, with analysts noting that global markets seem to be preparing for a potential victory by Donald Trump.
