Benchmark indices deepened losses in afternoon trade on Monday, weighed down by continued weakness in aviation and metal stocks as investors remained cautious ahead of the US Federal Reserve’s policy decision later this week.
The traded at 85,289.07, down 423.30 points or 0.49 per cent from its previous close of 85,712.37. The 50 fell 162.40 points or 0.62 per cent to 26,024.05 from Friday’s close of 26,186.45. Both indices opened lower, with the Sensex starting at 85,624.84 and the Nifty at 26,159.80.
Market breadth remained weak with 3,013 stocks declining against 1,064 advances on the BSE, while 205 stocks remained unchanged. A total of 218 stocks hit lower circuit limits compared to 168 in upper circuit. The number of stocks touching 52-week lows stood at 370, significantly higher than the 70 stocks at 52-week highs.
. Bharat Electronics declined 3.83 per cent to ₹391.30, while Eicher Motors fell 2.43 per cent to ₹285.30. JSW Steel dropped 2.22 per cent to ₹1,136.40 and Jio Financial Services lost 2.06 per cent to ₹297.50.
On the gainers’ side, Tech Mahindra led with a rise of 0.83 per cent to ₹1,583.90. HCL Technologies gained 0.46 per cent to ₹1,690.80, while HDFC Life Insurance advanced 0.43 per cent to ₹771.60. Wipro climbed 0.27 per cent to ₹260.60 and Tata Consultancy Services edged up 0.23 per cent to ₹3,245.50.
Broader market indices underperformed benchmarks, with the Nifty Midcap 100 falling 1.46 per cent to 59,697.85 and the Nifty Smallcap 100 declining 2.02 per cent to 17,151.80. The Nifty Next 50 dropped 1.57 per cent to 67,633.70, while the Nifty Bank index fell 0.84 per cent to 59,273.50.
Despite the Reserve Bank of India’s recent 25 basis points rate cut and an upgraded GDP forecast for FY26, market sentiment remained defensive. Analysts attributed the weakness to persistent foreign institutional investor outflows, rupee depreciation, and uncertainty surrounding the Federal Reserve’s December 10 policy meeting.