Priyanka Tiwari
Share_1405885651.jpg)
The Indian stock markets opened on a flat note on Monday, reflecting mixed global cues. The BSE Sensex slipped 19.36 points (0.02%) to 77,840, while the Nifty declined 37.50 points (0.16%), settling at 23,522.45 at the opening bell.
Markets Decline Following RBI Rate Cut
On Friday, equity benchmark indices Sensex and Nifty ended lower after the Reserve Bank of India (RBI) announced a rate cut, which failed to excite investors. Profit-taking amid foreign fund outflows further contributed to the downward trend.
The 30-share BSE Sensex dropped 197.97 points (0.25%), closing at 77,860.19 after experiencing volatile trading. During the session, it fell as much as 582.42 points (0.74%) to 77,475.74 before recovering slightly.
Similarly, the NSE Nifty slipped 43.40 points (0.18%), settling at 23,559.95.
Key Stock Movers
Losers:
- ITC: Declined over 2% after reporting a 7.27% drop in consolidated net profit to ₹5,013.16 crore for the December quarter. The decline was attributed to subdued demand and higher input costs.
- Other laggards:
- State Bank of India (SBI)
- Adani Ports
- Tata Consultancy Services (TCS)
- ICICI Bank
- Reliance Industries
- PowerGrid
Market analyst Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., stated,
"As the rate cut did not bring any major surprises, investors found little incentive in the RBI governor’s comments. This led to continued profit-taking in banking, oil & gas, FMCG, and power stocks. Earnings reports have been mixed, while persistent selling of domestic shares by Foreign Institutional Investors (FIIs) has further added to investor caution."
Gainers:
- Tata Steel: Jumped over 4%.
- Bharti Airtel: Surged nearly 4% after posting a five-fold increase in consolidated net profit to ₹16,134.6 crore, fueled by the Indus Tower business consolidation and tariff hikes.
- Other gainers:
- Zomato
- Mahindra & Mahindra
- UltraTech Cement
- Tech Mahindra
Sectoral Performance
- BSE Smallcap index: Declined 0.68%
- BSE Midcap index: Gained 0.13%
- Top sectoral losers:
- Oil & Gas (-1.31%)
- FMCG (-1.25%)
- Energy (-1.07%)
- Industrials (-0.73%)
- Services (-0.62%)
Markets are expected to remain volatile, with investors closely monitoring global trends, corporate earnings, and foreign fund flows.
Read More: India Considers Major Tariff Cuts on U.S. Goods to Avoid Reciprocal Trade Sanctions
