Mumbai: The domestic benchmark stock index ended the trade fair’s weakness on Monday, with more than 1% shutting down the market based on widespread sales pressures in the market. At the closing ceremony, 30-share Sensex fell 856.65 points, or 1.14%, with a closure of 74,454.41. During the day trading period, the index fluctuated between 74,907.04 and 74,387.44.
Similarly, Nifty lowered 242.55 points, or 1.06% on the first trading day of the week at a price of 22,553.35. During the intraday meeting, the index had a high of 22,668.05 and a low of 22,518.80. The decline was caused by IT stocks, WIPRO, HCL Tech, TCS, Infosys and Bharti Airtel among the worst performers. Their losses were extended by 3.7%.
According to market experts, global headwinds continue to weigh in the domestic market, and continued volatility can lead to uncertainty among retail investors, whose risk appetite is usually lower. U.S. consumers have weaker sentiment and tariff issues and may further stress export-oriented sectors (such as IT).
On the other hand, some stocks have managed to resist the downturn. Mahindra & Mahindra, Dr. Reddy Lab, Eicher Motors, Hero Motocorp and Nestle India are 120 stocks that ended in green, up 1.54%.
The happiest mind technology, data patterns, JSW Holdings Limited, Orchid Pharma and Vesuvius India are the best interests of the BSE index. The wider market also follows negative trends, with the Nifty SmallCAP100 and Nifty MidCAP100 down 1.02% and 0.94% respectively.
In terms of the industry, all indexes except automotive and FMCG are lower, and these indexes manage to maintain a slight gain. Overall sentiment remains bearish as investors book profits after recent earnings.
Technically, on the daily chart, Nifty forms a red candle indicating weakness, experts say. Additionally, the index violates 22,700 support levels and is closed below it. Therefore, in terms of rising, 22,700-22,800 will act as the solid resistance zone.
