The benchmark indices gave up their early gains by midday on Monday despite opening at fresh all-time highs, with the Sensex declining 114.33 points or 0.13 per cent to 85,592.34 and the Nifty falling 38.75 points or 0.15 per cent to 26,164.20 as of 12.45 pm.
The Sensex touched an intraday high of 86,159.02 after opening at 86,065.92, while the Nifty climbed to 26,325.80 before paring gains. The early strength was driven by India’s stronger-than-expected 8.2 per cent GDP growth in the second quarter and rising expectations of a 25-basis-point rate cut by the Reserve Bank of India on December 5.
Bank Nifty crossed the 60,000 mark for the first time in history during the session, touching 60,114.05, before settling at 59,668.00, down 72.50 points or 0.12 per cent. The banking index extended its fifth consecutive week of gains, continuing to outperform the broader market.
Among Nifty gainers, led with a 1.29 per cent rise to ₹2,151.80, followed by at ₹1,532.20, up 1.01 per cent. advanced 0.98 per cent to ₹1,640.10, climbed 0.88 per cent to ₹7,115.50, and (Tata Motors Passenger Vehicles) gained 0.85 per cent to ₹359.85.
On the downside, IndiGo ( fell 1.75 per cent to ₹5,798.50, making it the top loser. declined 1.47 per cent to ₹1,022.20, dropped 1.20 per cent to ₹1,809.70, slipped 0.85 per cent to ₹2,849.90, and lost 0.80 per cent to ₹3,876.50.
Market breadth remained negative with 2,238 stocks declining against 1,795 advancing on the BSE, where 4,277 stocks were traded. A total of 139 stocks touched 52-week highs, while 141 hit 52-week lows. Some 206 stocks hit their upper circuit limits and 191 touched their lower circuits.
Sectoral indices showed a mixed performance with Nifty Financial Services down 0.31 per cent at 27,804.95, while Nifty Midcap 100 declined 0.07 per cent to 60,995.00. Nifty Smallcap 100 bucked the trend, rising 0.25 per cent to 17,873.15.
Dr Ravi Singh, Chief Research Officer at Master Capital Services, noted that while indices registered fresh all-time highs, the broader market failed to mirror the optimism, with selective buying shifting toward quality and large-cap names. Foreign investors remained net sellers for the fifth consecutive week, offloading approximately ₹3,659 crore, while domestic institutional investors provided support with net inflows of ₹22,763 crore.