Financial and technology stocks drove a broad sell-off, pushing the Sensex below 74,000 and the Nifty 50 beneath 22,900 as volatility rose.
Indian shares fell sharply on Monday, reversing the previous week’s gains as selling in financial and technology stocks dragged the market lower. According to reports from Jagran and AP7AM, the BSE Sensex dropped 876.37 points to 73,852.90, while the Nifty 50 slipped 257.20 points to 22,888.95, finishing below the 22,900 mark.
The sell-off was broad-based, with banking and information technology shares under the most pressure. Axis Bank, Tata Motors Passenger Vehicles, Bajaj Finance, Trent and Infosys were among the day’s biggest Nifty losers, while JSW Steel, Eicher Motors, State Bank of India, Larsen & Toubro and ONGC ended higher, market reports said.
Sector performance was weak across the board. The FMCG index fell 1.2 per cent, the IT index declined 1.3 per cent and the private bank index lost 1.8 per cent, while only the PSU Bank gauge managed to stay in the green. The mid-cap and small-cap indices each fell about 1 per cent, underscoring the wider pressure on domestic equities, according to market data cited by the publications.
Volatility also picked up. India VIX rose 4.48 per cent to 14.69, signalling a jump in near-term market uncertainty, while the rupee ended the session at 94.92 against the dollar, marginally weaker than the previous close of 94.95. Some market reports also noted that the decline came after a week of gains and cited a deterioration in market breadth, with selling pressure evident across much of the broader market.
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