Stock markets experienced a decline on Monday as concerns over global trade wars overshadowed a brief recovery rally. The Sensex dropped 217.41 points or 0.29 per cent to close at 74,115.17, while the Nifty 50 ended the day down 92.20 points or 0.41 per cent at 22,460.30.
The trading session started positively, with Nifty reaching an intraday high of 22,676 before facing resistance at the 20-day Exponential Moving Average. However, as the day progressed, selling pressure intensified, leading to a downward trend in the market due to renewed worries about global trade tensions and weak cues from Asian markets.
Top gainers of the day included Power Grid Corporation of India Ltd., which surged 3.12 per cent to ₹271.40, and Hindustan Unilever Ltd. (HUL), rising 1.99 per cent to ₹2,247.75, supported by strong demand for FMCG stocks. Infosys Ltd. also saw gains of 1.01 per cent, closing at ₹1,702.75, while Nestlé India Ltd. and Asian Paints Ltd. gained 0.66 per cent and 0.45 per cent respectively.
On the other hand, the top losers for the day were IndusInd Bank Ltd., dropping 3.86 per cent to ₹900.60, and Zomato Ltd., slipping 2.58 per cent to ₹211.20 amid concerns over the food delivery sector’s growth. Larsen & Toubro Ltd. (L&T) and Titan Company Ltd. also experienced declines.
Despite the mixed performance of individual stocks, the broader market sentiment remained cautious as investors kept an eye on geopolitical risks and awaited key inflation data expected later in the week.
