Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
The Nifty index concluded the trading session at 23482.15, reflecting a decline of 0.52%. Throughout the day, the index reached a high of 23381.6 and a low of 23222.0.
Sensex traded within a range of 77260.37 and 76756.09, ultimately closing 0.41% lower at 77505.96.
Indian rupee fell to a record low during early trade following an uptick in the dollar index. The rupee fell in early trade at 87.1100 against the US dollar, as compared to 86.6162 against the greenback at previous close.
On Nifty, 35 constituent stocks ended in the red, dragged by Larsen & Toubro, Tata Consumer, Hero MotoCorp, Coal India, and Bharat Electronics with losses extending up to 4.67%.
Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv were among the 13 constituent stocks that ended in the green, with gains extending up to 5.12%.
Midcap index underperformed relative to the Nifty 50, with the Nifty Midcap 50 closing down by 0.65%.
Small-cap stocks lagged behind the Nifty 50, as the Nifty Small Cap 100 ended at 16979.75, marking a decrease of 362.15 points or 2.13%.
Among the sectors, the market ended on a mixed note, with Nifty Oil & Gas, FMCG, and PSU Bank indices being the worst hit, ending down by 2.22%, 1.67%, and 1.60%, respectively.
Nifty IT, Auto, Pharma, Healthcare, and Consumer Durables managed to eke out gains of up to 0.68%.
On Nifty, the gainers were Bajaj Finance (5.32%), Mahindra & Mahindra (3.14%), Wipro (2.89%), Shriram Finance (2.70%), and Bajaj Finserv (2.33%).
The top losers were Larsen & Toubro (4.59%), Oil & Natural Gas Corporation (3.32%), Tata Consumer (3.14%), Coal India (2.93%), and Bharat Electronics (2.71%).
Bank Nifty concluded the session at 49506.95, having achieved an intraday high of 49373.45 and a low of 48906.05.
Among the individual performers, Eicher Motors Limited’s shares gained more than 3% to Rs 5,575.5 while Hero MotoCorp’s share price saw a marginal increase after the company reported improved sales data for January.
After the budget presentation, railways shares witnessed a dip. IRCTC dropped by 3.95%, reaching an intraday low of Rs 763.3 on the NSE.
IRFC fell 5.5% to Rs 133.45, after starting the day with a 2.75% loss, bringing its two-session loss to 10.23 percent.
RVNL and Ircon International saw sharp declines of 7.31% and 5.74%, respectively, and the Titagarh Rail Systems dropped 7.72% to Rs 882.2, while Jupiter Wagons lost 7.85% during intraday trading.
Oil marketing companies experienced decline after the government did not announce any compensation for under-recoveries on LPG.
Indian Oil fell by 2.6%, Bharat Petroleum Corporation dropped by 4.4%, and Hindustan Petroleum Corporation declined by 7%.