Indian equities ended the day lower on Monday, as IT stocks led the laggards amid renewed trade tensions between the US and China. The Sensex fell 174 points to close at 82,327, while the Nifty 50 slipped 58 points to 25,227.
On the Sensex, Tata Motors, Infosys, Hindustan Unilever, Power Grid, and BEL were among the top decliners, dropping between 1% and 2.7%. Broader markets were mixed, the small-cap index was down 0.2%, and mid-caps edged up 0.1%.
Experts say the decline reflects caution over escalating U.S.-China trade tensions and the ongoing US government shutdown, which have spooked investors across Asia. Vinod Nair of Geojit Investments notes that profit booking in consumption and discretionary sectors, combined with mixed Q2 earnings, added to the risk-off sentiment.
Sector focus
IT stocks fell 0.8% ahead of HCLTech’s quarterly results, while financials saw selective buying after regulatory easing. Mid- and small-cap stocks maintained a positive undertone.
In primary markets, Tata Capital debuted strongly, listing 1.23% above its issue price and closing 1.4% higher on the first day.
Global markets, crude and Rupee
Overseas, equities steadied after last week’s turbulence from the trade dispute. Gold surged past $4,000 an ounce, reflecting ongoing uncertainty. European stocks opened higher, U.S. futures were up in thin trade, and Asian indices remained subdued.
Oil prices rebounded after hitting five-month lows on Friday. Brent crude rose 1.5% to $63.67 a barrel, while WTI gained 1.54% to $59.81.
he Indian rupee hovered near record lows but ended at 88.67 against the dollar, helped by RBI intervention and optimism from an upcoming Indian trade delegation visit to the U.S.
So, in summary, Dalal Street started the week on a cautious note. Global trade tensions, mixed earnings, and sector rotation are keeping investors on edge, while domestic cues like banking and selective buying offer some support.
That’s all from ET Market Watch for Monday. I’m Neha Vashishth, and we’ll keep tracking the market pulse for you.