Sensex closes 77 points lower, Nifty below 24,700; Adani Ports gains 2%
Benchmark stock market indices rebounded after falling sharply in early trade to close marginally lower on Monday.The S&P BSE Sensex was down by 77.26 points to close at 81,373.75, while the NSE Nifty50 lost 34.10 points to end at 24,716.60.Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market continued its consolidation phase for the third consecutive week, influenced by renewed concerns over a potential tariff war and escalating geopolitical tensions between Russia and Ukraine.advertisement
"While global uncertainties have led investors to adopt a risk-averse approach, the Indian market has demonstrated resilience, underpinned by robust institutional inflows and selective sectoral strength like FMCG, real estate, and financial stocks," he added.Adani Ports and Special Economic Zone led the pack with a gain of 2.51%, followed by Mahindra & Mahindra which climbed 1.58%. PowerGrid Corporation of India also showed positive momentum, gaining 1.07%, while Eternal posted gains of 1.07%. Hindustan Unilever rounded out the top five gainers with an increase of 0.96%.Tech Mahindra was the worst performer, declining 1.47%, while Tata Steel also struggled with a drop of 1.21%. Tata Motors faced headwinds, falling 1.12%, and Titan Company Limited retreated 0.80%. HDFC Bank completed the list of top five losers, shedding 0.60% by the closing bell.advertisement"Supportive domestic macro indicators include a potential RBI rate cut, a better monsoon, Q4 GDP data and better GST collection. Under the current market landscape, investors are adopting a cautious short-term strategy, with a focus on domestically oriented and interest-sensitive sectors," said Nair. Nifty Midcap100 saw modest gains of 0.62%, while Nifty Smallcap outperformed with a rise of 1.19%. The India VIX, which measures market volatility, surged by 6.71%. Among the sectoral gainers, Nifty PSU Bank led the charge with an impressive rally of 2.15%, followed by Nifty Realty which climbed 2.31%. Other sectors that ended in positive territory included Nifty FMCG up 0.81%, Nifty Metal gaining 0.70%, Nifty Private Bank rising 0.34%, Nifty Media advancing 0.32%, Nifty Healthcare posting gains of 0.12%, and Nifty Auto edging higher by 0.01%.However, several sectors faced selling pressure during the session. Nifty IT was the worst performer, declining 0.70%, while Nifty Consumer Durables fell 0.48%. Nifty Pharma retreated 0.22%, Nifty Oil & Gas dropped 0.21%, and Nifty Financial Services closed marginally lower by 0.11%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
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