MUMBAI: Benchmark BSE Sensex tumbled 824 points on Monday, closing at a fresh seven-month low amid a broad selloff in IT, oil, and gas stocks, triggered by weak global trends and investor anxiety over US trade policy.
The Sensex plunged 824.29 points or 1.08 per cent to settle at 75,366.17, with 23 of its 30 constituents ending in the red. The index moved between a high of 75,925.72 and a low of 75,267.59 during the session.
The broader NSE Nifty also dropped sharply, losing 263.05 points or 1.14 per cent to close at 22,829.15, slipping below the 23,000 mark for the first time since June 6, 2024.
IT, telecom, utilities, power, consumer durables, oil and gas, and healthcare stocks led the decline as weak manufacturing data from Asia and concerns over US trade policy rattled investor sentiment.
US President Donald Trump announced 25 per cent tariffs on Colombia after the country blocked planes carrying deported migrants. The decision was later reversed after Colombia, a close ally of the US, agreed to accept deported migrants.
Major laggards
Among major laggards, HCL Tech fell the most, shedding 4.49 per cent, followed by Zomato, Tech Mahindra, PowerGrid, and Tata Motors. Infosys, Tata Steel, HDFC Bank, Reliance Industries, and Bharti Airtel also declined, dragging the indices further down.
On the other hand, ICICI Bank bucked the trend, gaining 1.39 per cent after reporting strong third-quarter results. Hindustan Unilever, M&M, SBI, and L&T were among the other gainers.
In global markets, Asian indices like Shanghai and Tokyo ended lower due to disappointing manufacturing data, while European markets traded weak in early sessions. Germany’s DAX dropped 1.1 per cent, further fueling pessimism across global equities.
Where the market heads next remains uncertain as global cues, sectoral challenges, and domestic earnings results will play pivotal roles in determining investor sentiment.
