Shares of Bajaj Finance, Shriram Finance, M&M, Wipro, and Bajaj Finserv closed as the major gainers of the Nifty 50 pack in Monday’s trading session. On the other hand, L&T, Tata Consumer Products, Hero Motocorp, Coal India, and Bharat Electronics stocks ended as the major laggards.
The broader market faced pressure as the Sensex tumbled over 700 points and Nifty dropped nearly 250 points in early trade on concerns of a trade war sparked by US President Donald Trump imposing tariffs on Canada, Mexico, and China, alongside a strong rally in the dollar.
Rebounding from the early losses, the BSE Sensex closed lower by 319.22 points or 0.41 percent at 77,186.74, while the Nifty 50 dipped 121.10 points or 0.52 percent to 23,361.05.
Additionally, Nifty smallcap 100 declined by 2.13 percent to 16,617.60, and Nifty midcap 100 slipped by 0.93 percent to 52,988.80.
Ajit Mishra, SVP, Research, Religare Broking Ltd, noted, “Markets began the week on a weak note, influenced by global cues, and declined by over half a percent. After opening with a gap-down, Nifty fluctuated between gains and losses before settling at 23,361.05.”
Mishra also mentioned that IT stocks posted decent gains, while pharma and auto sectors saw marginal upticks. However, energy, metal, and FMCG sectors were the top laggards.
“Concerns over Trump’s tariff announcements overshadowed the budget’s impact, pushing the index toward its 20-week EMA, signaling caution amid consolidation. This phase may continue, with global cues, corporate earnings, and the upcoming MPC meeting playing a key role in market direction. Investors are advised to remain cautious and manage positions on both sides,” he added.
Vikram Kasat, Head – Advisory, PL Capital – Prabhudas Lilladher, highlighted the fear surrounding the broad trade war, stating that despite being anticipated, the move has left markets on edge.
In terms of top gainers, Bajaj Finance surged by 5.12 percent to close at ₹8410, driven by strong buying interest and positive sentiment in the financial sector. Shriram Finance followed, posting a gain of 3.06 percent to ₹548.05. M&M recorded a 3 percent increase, closing at ₹3169, reflecting optimism in the automotive sector. Wipro saw a 2.72 percent rise, ending at ₹313.1, as IT stocks showed resilience. Bajaj Finserv rounded up the list of top gainers with a 2.32 percent increase, closing at ₹1794.75.
Shares of Saregama India and Jyoti Structures rallied to close nearly 10 percent higher on the BSE. Top losers included Larsen & Toubro (L&T) with a drop of 4.69 percent, Tata Consumer Products slipping by 3.07 percent, Hero MotoCorp declining by 2.98 percent, Coal India falling by 2.88 percent, and Bharat Electronics Limited (BEL) dipping by 2.84 percent.
Texmaco Rail, Siemens, Elecon, RITES, and HUDCO stocks closed as major laggards on the BSE, depreciating nearly 9 percent.
Overall, while select financial and IT stocks boosted the market, sectors like infrastructure, metal, oil & gas, and consumer goods faced pressure, indicating a mixed sentiment among investors.
