Share Market Settles In Red, Sensex Tanks Over 800 Points, Nifty Closes Below 23K

This sentiment was also driven by fears about the uncertainty of US President Donald Trump's tariff decisions, and consistent FII outflows.

The rupee depreciated 11 paise to settle at 86.33 (provisional) against the US dollar on Monday, weighed down by strong dollar demand and a muted trend in domestic equities.

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The equity benchmark indices ended the first trading session of the week on a negative note. The key indices, Sensex and Nifty, closed on Monday at major lows following heavy selling seen in IT and oil & gas shares.

This sentiment was also driven by fears about the uncertainty of US President Donald Trump's tariff decisions, and consistent FII outflows.

The BSE Sensex nosedived more than 800 points to close trading at 75,366.17, while the NSE Nifty50 plunged over 1 per cent or 263.05 points to settle the session under the 23k mark at 22,829.15.

The major gainers on the Sensex included ICICI bank, Hindustan Unilever, M&M, SBI, and L&T. On the other hand, the laggards for the session were HCL Tech, which tanked 4.49 per cent, followed by Zomato, Tech M, PowerGrid, and Tata Motors.

In the broader markets, the Nifty Smallcap 50 and Nifty Smallcap 100 indices dominated in red and slumped 3.88 per cent and 3.84 per cent respectively.

The markets witnessed a bloodbath across sectors. The Nifty Media index took a major beating and plunged 4.73 per cent in the session, followed by the Nifty Midsmall IT & Telecom index which tanked 4.15 per cent.

Macro Indicators

The rupee depreciated 11 paise to settle at 86.33 (provisional) against the US dollar on Monday, weighed down by strong dollar demand and a muted trend in domestic equities.

Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, explained, "We expect the rupee to trade with negative bias on positive US dollar and weak tone in the domestic markets. Persistent FII outflows and importer demand for dollars may continue to pressurise the rupee. However, weakness in crude oil prices and central bank intervention may support the rupee. investors may remain cautious ahead of the Federal Open Market Committee (FOMC) meeting outcome this week."

The Asian markets witnessed Shanghai and Tokyo settle lower due to muted manufacturing data. European markets also remained lower in early sessions, while the US stocks in futures trade slipped. 

The foreign institutional investors (FIIs) dumped Indian equities worth Rs 2,758.49 crore on Friday, official data from the exchange revealed. The global oil benchmark, Brent crude, climbed up 0.22 per cent to touch $78.67 per barrel.