Sensex dropped 372 points while Nifty slipped below 24,000. |
Mumbai: Indian benchmark equity indices closed lower on Monday as rising geopolitical tensions in West Asia and selling in key sectors kept investors cautious. The market remained under pressure throughout the session, with auto, information technology and PSU banking stocks witnessing notable selling.The BSE Sensex fell 372.10 points or 0.48 percent to close at 76,728.37. The NSE Nifty declined 109.75 points or 0.46 percent to settle at 23,946.25. Market Under Pressure
Investor sentiment stayed weak due to concerns over fresh tensions in West Asia. Traders preferred reducing risky positions, leading to broad-based selling across sectors.
Experts said uncertainty around the temporary US-Iran peace understanding also triggered profit booking near important market levels.This cautious mood prevented any meaningful recovery during the day.Sectoral WeaknessAuto and IT stocks were among the biggest drags on the market. Public sector banking stocks also saw heavy selling pressure.Among major losers in the Nifty pack, Mahindra & Mahindra and Tata Motors recorded sharp declines, pulling benchmark indices lower.Oil and gas as well as chemical stocks also ended in negative territory. Broader Market PerformanceThe weakness was not limited to large-cap stocks. Broader markets also closed lower, showing cautious sentiment among retail and institutional investors.The Nifty MidCap index declined 0.37 percent , while the Nifty SmallCap index slipped 0.62 percent .This indicates selling pressure across multiple market segments. Pharma Offers SupportDespite overall weakness, pharmaceutical stocks emerged as a bright spot.The Nifty Pharma index was the top sectoral gainer during the session. Metal and healthcare stocks also witnessed selective buying, helping limit deeper losses.Analysts said defensive sectors such as pharma often attract investors during uncertain market conditions. Technical OutlookMarket experts said the 24,000 mark now acts as immediate resistance for Nifty.A sustained move above 24,100–24,200 could improve sentiment. On the downside, support is seen at 23,900, followed by 23,800.Analysts expect investors to closely watch global developments and domestic triggers for the market’s next direction.