Markets deepened their losses through the first half of Monday’s session, with the BSE Sensex trading at 76,356.15 — down 972.04 points or 1.26 per cent — and the Nifty 50 at 23,918.40, shedding 257.75 points or 1.07 per cent, as of 12.32 PM. Both indices extended the sharp gap-down opening recorded earlier in the day, with no meaningful recovery attempt visible through the morning trade.
Selling was broad-based. Of 4,359 stocks traded on the BSE, 2,695 declined against 1,464 advances, with 200 unchanged. A total of 194 stocks hit the upper circuit while 180 were locked in the lower circuit. The market saw 179 stocks at 52-week highs and 22 at 52-week lows, reflecting the uneven nature of the session’s damage.
The sell-off continued to draw fuel from the US-Iran standoff, with crude oil reclaiming levels above $100 a barrel. MCX Crude Oil opened with a sharp gap-up and was trading above ₹9,500, with analysts noting the near-term bias has turned bullish “although price action remains highly sensitive to headline-driven developments surrounding the Strait of Hormuz,” according to Ponmudi R, CEO of Enrich Money. US Oil was holding within the $98–$100 zone, with resistance seen at $102–$104.
The rupee remained under pressure, with USD/INR trading near ₹94.80–₹95, rebounding from recent lows of ₹94.30 as dollar demand picked up amid geopolitical uncertainty. Persistent foreign fund outflows added to currency and market volatility through the session.
On the Nifty 50 losers’ board, was the worst hit, crashing 6.24 per cent to ₹4,227.60 from its previous close of ₹4,509.00, as Prime Minister Modi’s call to curb gold consumption continued to weigh on jewellery stocks. fell 5.36 per cent to ₹4,280.20, its steepest intraday slide of the session, as surging jet fuel costs compounded airline sector pressure. extended its slide to 4.17 per cent, trading at ₹976.80 against a previous close of ₹1,019.30. dropped 3.94 per cent to ₹1,762.30, and Eternal declined 3.68 per cent to ₹246.96.
On the gainers’ side, Tata Consumer Products extended its morning rally to 5.65 per cent, trading at ₹1,242.70 against a previous close of ₹1,176.20, on the highest traded value in the Nifty at ₹1,51,979.90 lakhs. Coal India rose 1.73 per cent to ₹464.30, benefiting from the energy supply shift narrative. Max Healthcare gained 1.41 per cent to ₹1,026.75, Sun Pharma advanced 1.36 per cent to ₹1,873.10, and TCS added 0.79 per cent to ₹2,413.40 — with IT and pharma stocks holding ground as sectors shielded from the government’s austerity advisory.
On commodities, COMEX Gold was trading cautiously near the $4,670–$4,700 zone, while MCX Gold was attempting to stabilise near ₹1,53,000. COMEX Silver was trading below $82, and MCX Silver was consolidating below ₹2,63,000.
Technically, the Nifty’s RSI has slipped below the 50 mark, signalling fading short-term momentum. The 23,800 level remains the critical support floor for the afternoon session. Unless the index reclaims 24,000 on a sustained basis, analysts expect the cautious undertone to persist into the second half of trade.