Sensex Falls 247 Points, Nifty Slips Below 25,100; IT Drags, Mid & Smallcaps Shine.
Indian benchmark indices ended lower on Monday, extending last week’s weakness, as heavy selling in IT stocks weighed on overall market sentiment despite gains in pharma, auto, and select financial stocks. The BSE Sensex dropped 247.01 points to close at 82,253.46, while the NSE Nifty50 slipped 67.55 points, ending at 25,082.30—below the 25,100 mark.
According to Aditya Gaggar, Director at Progressive Shares, the Nifty started the week on a weak note, testing the crucial 25,000 support zone.
“The index has formed a bearish candle on the daily chart, but signs of a hidden bullish divergence in RSI and support from the 50-DMA suggest a possible reversal,” he said. “The 24,970–25,000 range should act as strong support, with resistance seen near 25,325.”
Top Movers
Top gainers on the Sensex:
Eternal: +2.83%
Titan: +1.23%
Mahindra & Mahindra: +0.56%
Sun Pharma: +0.54%
ITC: +0.54%
Top losers:
Tech Mahindra: –1.82%
Bajaj Finance: –1.54%
Infosys: –1.53%
Asian Paints: –1.50%
HCL Technologies: –1.41%
Broader Market Outperforms
Despite the weakness in frontline indices, broader markets outperformed:
Nifty Midcap100 rose 0.70%
Nifty Smallcap100 gained 1.02%
India VIX (volatility index) was up 1.37%
Sectoral Highlights
Gaining sectors:
Nifty Realty: +1.39%
Nifty Media: +1.36%
Nifty Healthcare: +1.00%
Nifty Pharma: +0.83%
Nifty PSU Bank: +0.73%
Nifty Consumer Durables, Auto, Metal, and FMCG also ended in the green.
Declining sectors:
Nifty IT: –1.11%
Nifty Financial Services: –0.20%
Nifty Private Bank: –0.05%
With global trade concerns still weighing on investor sentiment, market focus now shifts to whether Nifty can hold its 25,000 support level in the days ahead.
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