The Indian equity markets remained volatile during Monday afternoon as the Sensex and Nifty continued to trade in the red. The Sensex was down 60.89 points at 78,638.18, while the Nifty declined 36.20 points to 23,777.20. The broader market also showed a negative bias, with decliners outnumbering advancers on the BSE.
Adani Enterprises emerged as the top gainer on the NSE, surging 5.73%, followed by other stocks in the pharmaceutical and banking sectors. The Nifty Bank index also rose, providing some support to the markets. However, IT stocks faced selling pressure, with Wipro leading the losses.
On the positive side, the midcap segment showed resilience, with the NIFTY MIDCAP SELECT index gaining 0.21%. The financial services sector also traded positively, with the NIFTY FINANCIAL SERVICES index up 0.11%.
The market’s cautious stance was influenced by persistent foreign institutional investor outflows and concerns over the rupee’s performance against the US dollar. Investors are also keeping an eye on upcoming quarterly results and the Union Budget.
As the trading session continues, market participants are closely monitoring global cues and domestic factors that could influence the market’s direction for the remainder of the day. Stay tuned for more updates on the market trends and developments.
