The benchmark BSE Sensex lost 1258.12 points or 1.59% to close at 77,964.99, while the broader Nifty 50 index closed at 23,616.05, lower by 388.70 points or 1.62%.
Here’s how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said that the emerging markets are undergoing consolidation due to uncertainties surrounding new US economic policies, the Fed’s hawkish stance on future rate cuts, potential upward revision for CY25 inflation, and a strong dollar, all of which are negatively impacting market sentiment.
“The primary catalyst for a sharp sell-off in the domestic market appears to be concerns over the human metapneumovirus (HMPV). Additionally, the initial Q3 consensus earnings estimate suggests a potential gradual recovery in domestic corporate earnings, which could explain the domestic market’s underperformance compared to global markets led by premium valuation,” Nair added.
US markets
Wall Street’s major indexes opened higher on Monday, fueled by optimism in AI-driven technology stocks and reports suggesting the incoming Trump administration may take a softer approach to tariffs than initially expected.The Dow Jones Industrial Average gained 103.4 points (0.24%) to open at 42,835.52. The S&P 500 climbed 40.3 points (0.68%) to 5,982.81, while the Nasdaq Composite surged 230.3 points (1.17%) to 19,851.99.
Tech View
The markets are back to the recent sell-on-rally trend which reflects cautious investor sentiment, with bulls unable to sustain momentum, said Satish Chandra Aluri, Head of Research at Lemonn Markets Desk.“Any durable market recovery hinges on positive Q3 results and growth supportive measures from the budget. Technically, Nifty 50 broke key support levels and can test recent lows around 23,200-23,300 if selling persists. On the upside, Nifty 50 may face resistance around 24,000,” Aluri added.
Most active stocks in terms of turnover
ITI Ltd (Rs 4,388.54 crore), Aegis Logistics (Rs 2,016.03 crore), Reliance Industries (Rs 1,830.87 crore), HDFC Bank (Rs 1,623.11 crore), Bajaj Finance (Rs 1,425.10 crore), Zomato (Rs 1,401.47 crore) and Infosys (Rs 1,392.60 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 43.83 crore), Easy Trip Planners (Traded shares: 16.50 crore), YES Bank (Traded shares: 12.18 crore), ITI Ltd (Traded shares: 8.39 crore), Suzlon Energy (Traded shares: 6.24 crore), Union Bank India (Traded shares: 5.24 crore) and Zomato (Traded shares: 5.22 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of ITI Ltd, PTC Industries, Linde India, Equitas Small Finance Bank, Easy Trip Planners, Aegis Logistics and Devyani International were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 176 stocks hit their 52 week highs today while 113 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included ITI Ltd, PTC Industries, Apar Industries, Jubilant Food, Krishna Institute of Medical Sciences, Coromandel International and Info Edge (India).
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were ITC, HEG, Swan Energy, Union Bank India, Intellect Design, JM Financial and IREDA.
Sentiment meter favours bears
The market sentiments were bearish. Out of the 4,244 stocks that traded on the BSE on Monday, 3,530 stocks witnessed declines, 611 saw advances, while 103 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
