The country's stock market witnessed a decline in the first trading session of this week. Both benchmark indices lost points on Monday. Indian markets opened for the first time after the US attack on Venezuela. However, the impact of the Venezuela attack was not very significant in various global markets. Markets in Japan, South Korea, and China gained on Monday. Even European markets had a positive start. But Dalal Street showed the opposite picture.
In Monday's trading session, Nifty50 fell 0.30 per cent or 78 points. As a result, the National Stock Exchange's benchmark index stands at 26,250 points. On the other hand, Sensex declined 0.37 per cent or 322 points on the day. Consequently, the Bombay Stock Exchange's benchmark index stands at 85,439 points. While Sensex and Nifty50 remained down, small-cap and mid-cap indices were almost flat on the day. Mid and small-cap indices saw very marginal gains.
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Despite the decline in Nifty and Sensex, sectoral indices showed mixed performance. In Nifty, realty, India defence, auto, MFCG, metal, and PSU bank indices gained, while multiple important sectoral indices like IT, oil and gas, India tourism, energy, infrastructure, pharma, and banking lost points.
Amid positive vibes in global markets, experts have blamed investors' profit-booking mentality for the decline in India's stock market. Market experts believe investors are showing an overly cautious attitude ahead of the third-quarter financial reports of the current fiscal year. Profit-booking in heavyweight stocks like HDFC Bank, Reliance, and Infosys led to point losses in Sensex and Nifty50. According to a Reuters report, Donald Trump has warned of increasing the tariff imposed on India. Experts believe this news has also harmed the market.
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