Benchmark indices snapped their four-day winning streak on Monday as profit-booking weighed on investor sentiment. The BSE Sensex fell 452.44 points or 0.54 per cent to close at 83,606.46, while the NSE Nifty 50 declined 120.75 points or 0.47 per cent to end at 25,517.05.
The market correction was largely driven by broad-based selling in automobiles, FMCG, realty, and metals sectors after recent gains.
Despite weakness in large-cap indices, broader markets remained relatively resilient. The Nifty Midcap 100 index gained 356.05 points or 0.60 per cent to end at 59,741.20, while the Nifty Next 50 dipped 285.80 points or 0.42 per cent to close at 68,998.20, indicating mixed undertones across segments.
Among sectoral indices, PSU banks emerged as the clear outperformers, with the Nifty PSU Bank index rallying 2.7 per cent. State Bank of India gained 1.86 per cent to ₹820.35, helping lift the segment.
Top Gainers
Trent Ltd. topped the gainers’ list, climbing 3.34 per cent to ₹6,219.15, driven by robust momentum in retail stocks. State Bank of India followed, gaining 1.86 per cent to ₹820.35 amid strong PSU bank buying.
Bharat Electronics Ltd. (BEL) added 1.63 per cent to ₹421.70. Eternal (presumed to be Eternal Energy or Eternal Ltd.) advanced 0.72 per cent to ₹264.05, while Adani Ports rose 0.70 per cent to ₹1,450.20.
Top Losers
Axis Bank led the laggards, declining 2.11 per cent to ₹1,199.40 amid weakness in private banks. Kotak Mahindra Bank fell 2.03 per cent to ₹2,163.10, while Maruti Suzuki slid 1.95 per cent to ₹12,398.95 on profit-booking.
UltraTech Cement dropped 1.33 per cent to ₹12,072.35, and Bajaj Finance slipped 1.09 per cent to ₹936.20.
Market Insight
“PSU banks stole the limelight, with the Nifty PSU Bank index rallying 2.7 per cent,” analysts at Bajaj Broking noted in their commentary. Despite the correction in frontline indices, broader market strength suggests investors continue to find selective opportunities, particularly in PSU banks and midcaps.