Mumbai
Indian stock markets closed with heavy losses on Monday, the first trading day of the week, amid global uncertainties and growing concerns over Human Metapneumovirus (HMPV). Domestic benchmark indices fell more than 1.5 percent. Heavy selling was seen in the PSU bank sector on Nifty. A decline of more than 4 percent was recorded in the PSU bank sector. Apart from this, a decline of more than 3 percent was also recorded in reality, metal, energy, PSE and commodity sectors.
The Sensex closed at 77,964.99, down 1,258.12 points or 1.59 per cent, and the Nifty closed at 23,616.05, down 388.70 points or 1.62 per cent. The intraday low of Sensex was 77,781.62, while the intraday low of Nifty was 23,551.90.
Nifty Bank closed at 49,922, down 1,066.80 points or 2.09 per cent. The Nifty Midcap 100 index closed at 56,366.9, down 1,564.10 points or 2.70 per cent, while the Nifty Smallcap 100 index closed at 18,425.25, down 608.45 points or 3.20 per cent.
According to market experts, the main reason for the sharp selling in the domestic market is concern about HMPV. Experts said, “Consolidation is taking place in emerging markets due to new US economic policies, Fed’s aggressive stance on future interest rate cuts, possible increase in inflation in the year 2025 and strengthening of the dollar, all of which will negatively impact the market sentiment.” Is affecting.”
On the Bombay Stock Exchange (BSE), 657 shares closed in the green and 3,472 shares closed in the red, while there was no change in 115 shares. On the sectoral front, all sectors closed in the red. Tata Steel, NTPC, Kotak Mahindra Bank, PowerGrid, Zomato, IndusInd Bank, Asian Paints, Reliance, M&M, UltraTech Cement, HDFC Bank, Nestle India and SBI were the top losers in the Sensex. Titan, HCL Tech and Sun Pharma were the top gainers.
According to Karthik Jonagadala, Founder and CEO, Quantes Research, Nifty closed below its critical 200-day exponential moving average (200 DEMA) of 23,650. “We maintain a positive outlook and expect 5-6 per cent upside for the Nifty index in the near term if key levels are regained and market conditions improve soon,” he said.
