Indian equity markets concluded lower on Monday following a volatile trading day, with selling pressure in information technology and oil and gas stocks impacting overall sentiment. The Nifty closed at 26,250.30, down 78.25 points or 0.3 per cent. Analysts highlighted key resistance levels and potential corrective moves for the market.
The Sensex also ended in the red, settling at 85,439.62, a decline of 322.39 points or 0.38 per cent. Despite touching a record high earlier in the day, the markets saw a pullback as investors opted to book profits. Heavyweight stocks like HDFC Bank and Infosys were among the top losers.
While some stocks like Bharat Electronics and Tata Steel provided support, the broader market displayed a mixed trend. Technology and oil and gas sectors faced significant pressure, while real estate stocks outperformed with the Nifty Realty index rising over 2 per cent. FMCG and consumer durable stocks also saw gains.
Market experts anticipate a focus on Q3 earnings to guide near-term trends, with sentiments leaning towards positivity.
