Mumbai: The Indian stock market experienced a sharp decline on Monday, with the S&P BSE Sensex plummeting by 856.55 points to close at 74,454.41. The NSE Nifty50 followed suit, dropping 242.55 points to end the day at 22,553.35.
The IT sector led the market’s downturn, with major stocks such as Zomato, HCLTech, Infosys, Bharti Airtel, and TCS posting considerable losses on the Sensex. On a more positive note, stocks like Dr. Reddy’s, Eicher Motors, Mahindra & Mahindra, Nestle India, and Bharat Electronics (BEL) saw gains, with 14 Nifty 50 stocks ending higher. Despite this, IT heavyweights like Wipro, HCLTech, Infosys, TCS, and Bharti Airtel contributed to limiting the overall losses.
Market analysts pointed to ongoing selling by foreign institutional investors (FIIs) as a primary factor driving the market’s decline. Experts explained that the persistent FII outflows are influenced by global market conditions, particularly the economic recovery in China, where relatively lower stock prices have encouraged a “Sell India, Buy China” approach.
Other experts also highlighted the broader global uncertainties, including issues like the Trump tariffs, which continue to weigh on market sentiment.
As the market faces these challenges, analysts advise investors to remain cautious and adapt their strategies to navigate the volatility.
