Stock Market Update: Sensex Drops 360 Points, Nifty Holds Around 25,550; FMCG, Metals See Gains

Sensex Off Lows, Down 360 Points; Nifty Near 25,550 as FMCG and Metal Stocks Gain.

Indian equity markets started Monday on a cautious note, with investors weighing domestic and global uncertainties. The BSE Sensex fell about 360 points to trade near 83,228, while the Nifty hovered around 25,550, down roughly 101 points.

Top Movers

Among Sensex stocks, L&T, Power Grid, RIL, Adani Ports, BEL, Bharti Airtel, Infosys, Ultratech Cement, ICICI Bank, Tech Mahindra, Bajaj Finserv, and IndiGo led losses, dropping up to 1%. On the upside, HUL, ITC, and Axis Bank were the few gainers.

In the broader market, Nifty MidCap fell 1%, and Nifty SmallCap dropped 1.5%. Sectoral indices were mostly lower:

Realty: –1.6%

Pharma: –0.97%

Auto: –0.6%

IT & Bank: –0.5%

Investor Sentiment

According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, markets are being weighed down by a mix of India-specific and global factors. These include the US-India trade deal uncertainties, geopolitical tensions in Venezuela and Iran, and developments related to US tariffs. The India VIX indicates higher volatility ahead.

Investors are also keeping a close eye on Q3 earnings from major tech and banking companies, including RIL, which could influence market trends in the near term.

Global Cues

Asian markets opened mixed:

China CSI 300: –0.29%

Hong Kong Hang Seng: –0.09%

Japan Nikkei: +1.61%

South Korea KOSPI: +1.26%

In the US, Wall Street ended last week at record highs, with the S&P 500 +0.65%, Dow +0.48%, Nasdaq +0.82%, following jobs data showing a slight decline in unemployment.

Meanwhile, oil prices and other commodities remain in focus amid ongoing unrest in Iran, with over 500 fatalities reported, and political developments in the US adding to market caution.