The benchmark equity indices slumped in the final hour of trade on Monday amid profit- booking ahead of the monthly F&O expiry on Tuesday and mixed global cues.
After opening on a positive note, the Sensex touched the day’s high of 85,473.47, gaining 241.55 points, but later succumbed to selling pressure, slipping to an intraday low of 84,710.11—a fall of 763.36 points (0.89%) from the peak. It eventually settled at 84,900.71, down 331.21 points (0.39%).
The Nifty also declined sharply, falling 230.65 points (0.89%) from the day’s high before ending below the 26,000 mark at 25,959.50, down 108.65 points (0.42%), starting the week on a weak note.
What did Nilesh Jain say?
“The markets remained under pressure for another session, with Nifty sliding below the key psychological level of 26,000. The next crucial support lies at the 21-DMA around 25,850, and a breakdown below this could push Nifty further toward 25,700,” said Nilesh Jain, Head – Technical and Derivatives Research, Centrum Broking.
Conversely, a move above 26,180 would improve sentiment and potentially pave the way toward 26,300. With the November series F&O expiry approaching, volatility is expected to escalate, and Nifty is likely to fluctuate within a broader range of 25,800–26,200, Jain added.
“The muted performance was driven by risk aversion amid global uncertainties and continued FII selling, which overshadowed domestic resilience,” said Ajit Mishra, SVP – Research, Religare Broking. He noted that volatility is likely to remain heightened ahead of the monthly expiry, with Nifty expected to hover in the 25,800–26,100 band.
Investor sentiments
“Investor sentiment remained cautious in anticipation of key event risks such as potential delays in finalizing the interim US–India trade agreement. Nonetheless, selective buying in IT stocks offered some support,” said Vinod Nair, Head of Research, Geojit Investments.
Foreign portfolio investors sold shares worth Rs 4,171.45 crore while domestic institutional investors purchased shares worth Rs 4,512.87 crore on Monday, as per provisional data by the BSE.
Market breadth was weak, with 3,035 losers against 1,208 gainers on the BSE. Sectorally, all major indices—barring IT—closed in the red, with realty, capital goods, metal, and energy leading the losses, declining up to 2.1%. Broader markets also remained under pressure as the BSE Midcap and BSE Smallcap indices fell 0.27% and 0.83%, respectively, reflecting caution ahead of global events and the monthly derivatives expiry.
BEL, Tata Steel, M&M, UltraTech Cement, and Trent were the top Sensex laggards, falling up to 2.98%, while Tech Mahindra, Asian Paints, HCL Tech, Infosys, and Adani Ports were the top performers, rising up to 2.43%.
Investor wealth declined by ₹2.54 lakh crore, with the BSE’s total market capitalisation slipping to ₹469.68 lakh crore.
