Sensex, Nifty slide over 1% amid weak global cues, US trade uncertainties

Indian equity markets witnessed a sharp decline on Monday amid weak global cues and uncertainties over US trade policies which dampened domestic investors’ sentiment. 

At the closing bell, the BSE Sensex shed 824 points or 1.08% at 75,366, while the NSE Nifty 50 slipped 263 points or 1.14% at 22,829.

On the 30-stock Sensex, only six stocks managed to stay in the green. ICICI Bank led the gainers with a 1.75% rise, followed by the SBI, Hindustan Unilever, Asian Paints, UltraTech Cement, and Maruti Suzuki India.

However, the majority of stocks faced losses like Zomato, Tech Mahindra, HCLTech and Tata Motors.

Similarly, on the Nifty 50, 10 stocks traded higher. Britannia Industries emerged as the top gainer, rising 1.93%, followed by ICICI Bank, Hindustan Unilever, Larsen & Toubro and Nestle India.

On the losing side, Bharat Electronics Limited (BEL) dropped 2.68%, followed by HCLTech, JSW Steel and Trent.

Sectoral performance was largely negative. The Media index led the losses, falling 3.83%, followed by the Pharma index, which declined 2.35%, and the IT index, which shed 2.19%.

The only exception was the PSU Bank index, which ended the day by showing a marginal gain of 0.12%.

Broader markets experienced even sharper losses. The Nifty Midcap 100 fell 2.25%, while the Nifty Smallcap 100 tumbled 3.51%.

Meanwhile, Asian markets saw mixed reactions. Hong Kong’s Hang Seng Tech Index rose 2%, but Japan’s Nikkei 225 futures dropped 0.6%.

India's volatility index, the India VIX, climbed 7.36% to 17.98.

Gold experienced volatile trading as the first session of the week saw profit booking, with Comex gold encountering resistance near $2,770 but maintaining strong support around $2,750, showcasing resilience to break below that level.

(This story was taken from a syndicated feed and was only edited for style by Gujarat Samachar Digital team)

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