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Indices drop on profit booking, selling among sectors

At close, the Sensex was down 73.48 points or 0.09 per cent at 81,151.27, and the Nifty was down 112.50 points or 0.45 per cent at 24,741.50.

Indices drop on profit booking, selling among sectors

Representative Image (Photo: IANS)

Market remained under pressure on Monday amid selling across the sectors barring auto.

At close, the Sensex was down 73.48 points or 0.09 per cent at 81,151.27, and the Nifty was down 112.50 points or 0.45 per cent at 24,741.50.

On Nifty, the gainers included HDFC Bank, Bajaj Auto, Asian Paints, M&M and Eicher Motors while the biggest Nifty losers were Tata Consumer Products, Kotak Mahindra Bank, BPCL, IndusInd Bank and Bajaj Finserv.

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Trent, Adani Enterprises, Adani Ports & SEZ, Hindalco Industries, Britannia Industries, Cipla, Bajaj Finance, Bharat Electronics, UltraTech Cement, and Grasim Industries recorded declines of over 1.5 per cent.

Among the sectors, Nifty Auto Index concluded the session with a gain of 0.42 per cent, marking its second consecutive day of gains.

Rebound in Bajaj Auto shares, supported by Mahindra & Mahindra, significantly contributed to the index’s positive performance.

The Nifty Media index fell by 2.83 per cent , while the Nifty Metal, Nifty Oil & Gas, Nifty FMCG, Nifty Realty, and Nifty IT indices all recorded losses of over 1 per cent.

Nifty Bank ended the session with a cut of 0.25 per cent at 51,962 points.

Notably, the recent surge in alumina prices has brought increased attention to metal stocks such as Vedanta, National Aluminium Company (NALCO), Hindalco Industries, Arfin India, Century Extrusions, Maan Aluminium, and MMP Industries.

Further, the BSE Midcap and smallcap indices shed 1.5 per cent each.

On the BSE, including, Amber Enterprises, BF Investment, Dixon Technologies, Garware Technical, GFL, HCL Technologies, Indigo Paints, JSW Holdings, Maharashtra Scooters, MCX India, NALCO, Pilani Investment, Summit Securities, Suven Pharma, Tech Mahindra, among others touched their 52-week-high.

HDFC Bank shares surged 3 per cent after positive September quarter performance. However the shares of Kotak Mahindra Bank tumbled and fell nearly 5 per cent following the release of the bank’s September quarter numbers.

Zomato shares rose 3 per cent after the company announced plans to launch QIP.

RBL Bank was another stock that faced heavy selling pressure after its Q2 FY25 performance fell below street estimates. It closed down 14.19 per cent at Rs 176.

Asian shares were mixed after US markets rose overnight and Chinese stocks tumbled.

European shares were little changed as oil prices dropped on a report that Israel will refrain from striking Iranian energy targets.

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