Stock market closed with a decline, Sensex fell, Nifty closed below 24,750, movement in these stocks

A weak trend is being seen in the domestic stock market. The market closed with a decline on the first trading day of the week. The benchmark index Sensex of the Bombay Stock Exchange (BSE) closed at 81,151.27 on Monday with a decline of 73.48 points. Similarly, the Nifty of the National Stock Exchange (NSE) also closed at 24,781.10, falling 72.95 points. During trading, Tata Consumer Products, Kotak Mahindra Bank, BPCL, IndusInd Bank, and Bajaj Finserv were among the biggest losers in the Nifty. HDFC Bank, Bajaj Auto, Asian Paints, M&M, and Eicher Motors emerged as top gainer stocks.

Status of sectoral index

Barring auto, all other sectoral indices closed in the red during today’s trade, with FMCG, metal, oil and gas, and media falling by 1-2 percent. BSE midcap and smallcap indices fell by 1 percent each. Stock market benchmark indices Sensex and Nifty lost early gains and closed lower due to a sharp decline in Kotak Mahindra Bank and continued withdrawal of foreign funds.

Kotak Mahindra Bank fell over 4 percent.

Among the 30 Sensex companies, Kotak Mahindra Bank fell over 4 percent as the company’s quarterly earnings failed to cheer investors. Bajaj Finserv, IndusInd Bank, Adani Ports, UltraTech Cement, Bajaj Finance, Tata Consultancy Services, Infosys, Bharti Airtel, Hindustan Unilever and JSW Steel were other big laggards. HDFC Bank gained nearly 3 percent after the company on Saturday reported a 6 percent rise in September quarter net profit at Rs 17,825.

Asian Paints, Mahindra & Mahindra, Reliance Industries, Maruti, and Tech Mahindra were also among the gainers. Foreign institutional investors (FIIs) sold shares worth Rs 5,485. 70 crore on Friday, according to exchange data. However, domestic institutional investors (DIIs) bought shares worth Rs 5,214. 83 crore.

State of Asian markets

In Asian markets, Tokyo and Hong Kong declined, while Seoul and Shanghai rose. European markets were down. US markets closed with gains on Friday. Global oil benchmark Brent crude rose 1.04 percent to $73.82 a barrel. Recovering from its early lows, the BSE benchmark closed 218.14 points higher at 81,224.75 on Friday. The Nifty closed 104.20 points higher at 24,854.05.