The Indian stock market closed in the deep red on Monday, with Sensex and Nifty falling up to 0.6% after recording sharp gains in the previous session as Iran-US war escalations and rising oil prices spooked investors.
Sensex fell nearly 443 points to close at 77,708, while Nifty 50 declined over around 96 points to close at 24,238 on Monday. This came even as India VIX, which measures market volatility, dropped around 2% to 12.90.
Here are today’s top gainers on Nifty
Company name Price Change % Change
Trent 2,926 83.5 2.94%
Power Grid 289 5.15 1.82%
Bharti Airtel 1,940 31.3 1.64%
Cipla 1,442 22.9 1.62%
JSW Steel 1,257 19.7 1.60%
NTPC 347 5.4 1.58%
UltraTech Cement 11,903 176 1.51%
Here are today’s top gainers on Sensex
Company name Price Change % Change
Trent 2,926 83.5 2.94%
Power Grid 289 5.15 1.82%
Bharti Airtel 1,940 31.3 1.64%
NTPC 347 5.4 1.58%
UltraTech Cement 11,903 176 1.51%
SBI 1,060 15.7 1.51%
HCL Tech 1,221 17.4 1.45%
Here are today’s top losers on Nifty
Company name Price Change % Change
Axis Bank 1,256 -72.5 -5.46%
HDFC Bank 778 -42 -5.13%
Maruti Suzuki 13,514 -289 -2.10%
Kotak Bank 382 -7.9 -2.03%
Jio Financial Services 239 -4.07 -1.68%
Infosys 1,087 -9.41 -0.86%
TCS 2,251 -17.91 -0.79%
Here are today’s top losers on Sensex
Company name Price Change % Change
Axis Bank 1,256 -72.5 -5.46%
HDFC Bank 778 -42 -5.13%
Maruti Suzuki 13,514 -289 -2.10%
Kotak Bank 382 -7.9 -2.03%
Infosys 1,087 -9.41 -0.86%
TCS 2,251 -17.91 -0.79%
M&M 3,166 -13.7 -0.44%
What lies ahead?
The collapse of the June ceasefire between the US and Iran has pushed crude prices to touch $90, and as a result, markets have started the week on a cautious note, reflecting rising pressure on the global economy, said Vinod Nair, Head of Research at Geojit Investments.
He noted that these tensions are expected to persist in the near term as US military actions expand and global travel advisories for US citizens remain in place. This environment is likely to influence central bank policies in the second half of the ongoing 2026, with most central banks maintaining a hawkish stance, he added.
“The probability of future rate hikes is increasing as inflation and global bond yields continue to trend higher. At the same time, the initial set of Q1 earnings has been encouraging, driven largely by PSU banks, oil & gas and metals. While mid-cap and small-cap stocks outperformed their large-cap peers, supported by resilient earnings growth expectations and improving business momentum, further reinforcing opportunities for selective stock picking in the broader market, despite prevailing geopolitical headwinds,” the analyst said.
Technical view on Nifty
Going ahead, SBI Securities sees Nifty finding immediate resistance in the 24,370-24,400 zone on the upside. Any sustainable move above this zone could result in Nifty extending its pullback towards 24,550, followed by 24,700 in the short term, it said.
On the downside, the brokerage expects the benchmark index to find immediate support in the 24,130-24,100 zone.
Also read | Why did market fall today? Sensex slumps 440 points, Nifty closes below 24,250. 6 factors behind the selloff
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
