Benchmark stock market indices opened lower on Monday, starting the week on a weak note as fresh tensions sparked in the West Asia war
The S&P BSE was down 847.62 points to 76,480.57, while the NSE Nifty50 lost 249.65 points to 23,926.50 as of 9:27 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the market will face pressure from two headwinds today.
“One, the expected resolution of the West Asia crisis has again slipped away following President Trump’s rejection of Iran’s letter. Two, PM , chemical fertilisers and edible oil and refrain from avoidable foreign travel is a crisis management response to the current account deficit problem caused by high crude prices,” he added.
After the opening bell, HCL Technologies Ltd and NTPC Ltd were the only gainers among the Sensex stocks, rising 0.21% and 0.01%, respectively.
Titan Company Ltd saw the sharpest fall, dropping 6.37%. Indigo Ltd declined 2.81%, State Bank of India Ltd was down 2.78%, Eternal Ltd slipped 2.65%, and Bharti Airtel Ltd fell 1.91% in early trade.
“PM Modi’s call for austerity has slightly negative implications for economic growth in FY27. Particularly, the industries related to the austerity call like petroleum, chemical fertilisers, , air travel, hotel and related sectors will be sentimentally impacted. Sectors like pharmaceuticals which will not be impacted in any manner will remain resilient,” said Vijaykumar.
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