MUMBAI, India — Indian equity markets extended their losing streak to a fourth consecutive session on Monday, pressured by sustained selling in information technology, realty, pharma, and auto stocks.
The benchmark Sensex closed at 84,695.54, down 345.91 points, or 0.41 percent. The Nifty also ended lower at 25,942.10, declining 100.20 points, or 0.38 percent, as weakness continued across key sectors.
Market participants said the Nifty slipped below the psychological 26,000 level as well as its 20-day exponential moving average, adding to near-term pressure amid heightened volatility ahead of the monthly derivatives expiry.
Technical indicators showed bearish candlestick patterns, reflecting short-term selling pressure, though the index continues to hover near important short-term moving averages. Analysts warned that a sustained move below the 25,900 level could open the door to further downside toward the 25,800–25,700 range.
On the Sensex, shares of Power Grid, Trent, HCL Technologies, and Bharat Electronics were among the top drags on the index. Some selective buying, however, was seen in stocks such as Tata Steel, Asian Paints, Hindustan Unilever, NTPC, Axis Bank, and Eternal, which closed with gains.
Broader markets also remained under pressure. The Nifty Midcap 100 index fell 0.52 percent, while the Nifty Smallcap 100 declined 0.72 percent.
Sectorally, IT, realty, and auto stocks led the losses. The Nifty IT index dropped 0.75 percent, while the Realty and Auto indices slipped 0.67 percent and 0.53 percent, respectively. In contrast, the Nifty Media index gained 0.93 percent, and PSU Bank and FMCG indices ended marginally higher.
Analysts said overall sentiment remains cautious, with investors trimming positions amid sector-specific selling and the absence of strong positive triggers. They added that steady domestic liquidity and resilient macroeconomic fundamentals are providing some downside support, even as global uncertainties related to interest rates and geopolitics continue to limit risk appetite. (Source: IANS)
