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Sensex Today: Benchmark equity indices BSE Sensex and Nifty50 were trading lower on Monday, amid an uncertain outlook for Indian markets.
Sensex Today
Sensex Today: Benchmark equity indices reversed their early losses to break the 8-day losing streak, closing in positive territory on Monday. The BSE Sensex ended at 75,996.86, rising 57.65 points or 0.08 per cent from its previous close, and was up by around 702.10 points from its intra-day low of 75,294.76. During the previous eight trading sessions, the BSE Sensex had fallen 3.4 per cent, or 2,645 points.
Similarly, the NSE Nifty50 gained 30.25 points or 0.13 per cent, closing at 22,959.50. The index traded between 22,974.20 and 22,725.45 on Monday.
Out of the 50 stocks in the Nifty50, 34 closed higher, with notable gains from Adani Enterprises, Bajaj Finserv, IndusInd Bank, Power Grid Corporation, and Adani Ports, rising up to 3.93 per cent. On the other hand, Mahindra & Mahindra, Bharti Airtel, Infosys, TCS, and ICICI Bank were among the top losers, with declines up to 3.45 per cent.
The broader markets also saw recovery in the second half of the session, with the Nifty Midcap100 rising by 0.39 per cent. The Nifty Smallcap100 index recorded slight gains of 0.04 per cent.
Despite the recovery, market breadth remained negative. Of the 2,955 stocks traded on the NSE, 1,014 ended in the green, while 1,871 declined, and 70 remained unchanged.
Among the sectors, Pharma, Banks, Financial Services, Healthcare, OMCs, Consumer Durables, and Metals saw positive gains. The Nifty Pharma index led the sectoral gains, closing 1.27 per cent higher, driven by stocks like Glenmark Pharma and Ajanta Pharma.
Meanwhile, the Nifty Auto, FMCG, IT, and Media indices ended the day lower, with declines of up to 0.71 per cent.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the market’s underperformance stems from a combination of high valuations and a slowdown in corporate earnings.
“A modest single-digit earnings growth doesn’t justify high valuations. This is the key reason behind the relentless FII selling, which has impacted the market. The appreciating dollar has only worsened the situation,” he said, adding, “A recovery in earnings and a weakening dollar could reverse the market’s downward trend. This may happen soon, as India’s macros remain strong and a growth and earnings recovery are on the horizon.”
Looking ahead, the performance of the banking and IT sectors will be crucial in determining market direction. Traders should adjust their strategies, focusing on trade management, as suggested by Ajit Mishra, SVP of Research at Religare Broking. “While efforts to hold the 22,800 level persist, the overall market structure suggests more downside risks.”
Global Cues
On Friday, Wall Street came close to reaching a new record high, shrugging off concerns about Trump’s tariffs, which are set to be implemented in the coming weeks. The S&P 500 ended flat, while the tech-heavy Nasdaq Composite gained 0.4%, and the Dow Jones Industrial Average slipped by 0.4%.
