The Indian Stock Markets on Monday ended with losses riding on the West Asia crisis and the domestic disruptions. Nifty fell below 24,250 while Sensex
losses nearly 450 points at the time of close. The key sectoral performances were Nifty PSU Bank emerging as the top performer, gaining 2.8%. It was followed by Nifty Pharma up by 1.4%, Nifty Media up by 1%, Nifty Energy by 1%, Nifty Metal up by 0.86%, Nifty Oil & Gas by 0.71%), Nifty Infrastructure up by 0.69%, Nifty FMCG up by 0.61% and Nifty Consumer Durables by 0.72%. Among some of the constituents, the top losers were Axis Bank, HDFC Bank, Maruti Suzuki, Kotak Mahindra Bank, and Jio Financial Services. While on the gaining side were Trent, Cipla, Power Grid Corporation, NTPC, JSW Steel emerged as the top gainers. Indian rupee ended 17 paise lower at 96.45 per dollar on Monday versus previous close of 96.28. Vinod Nair, Head of Research, Geojit Investments Limited said, "The collapse of the June ceasefire between the US and Iran has pushed crude prices to touch $90. Markets have started the week on a cautious note, reflecting rising pressure on the global economy. These tensions are expected to persist in the near term as US military actions expand and global travel advisories for US citizens remain in place. This environment is likely to influence central bank policies in H2CY26, with most central banks maintaining a hawkish stance." "The probability of future rate hikes is increasing as inflation and global bond yields continue to trend higher. At the same time, the initial set of Q1 earnings has been encouraging, driven largely by PSU banks, oil & gas and metals. While mid-cap and small-cap stocks outperformed their large-cap peers, supported by resilient earnings growth expectations and improving business momentum, further reinforcing opportunities for selective stock picking in the broader market, despite prevailing geopolitical headwinds."
