Equities extended their morning losses on Monday as selling pressure intensified across sectors, with the benchmark indices trading in the red during mid-day session. The BSE Sensex fell 189.19 points or 0.26 per cent to 73,008.91, while the NSE Nifty declined 48.15 points or 0.22 per cent to 22,076.55 as of 12.30 PM.
Market breadth remained heavily skewed toward decliners, with 3,232 stocks falling compared to just 743 advances on the BSE. Notably, 1,060 stocks hit their 52-week lows, while only 60 touched their 52-week highs, signaling broad-based weakness.
Among sectoral indices, Nifty Bank shed 0.54 per cent to trade at 48,084.50, while Nifty Financial Services was down 0.27 per cent. The broader Nifty Midcap Select index also retreated 0.52 per cent.
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Coal India emerged as the top loser on the NSE, tumbling 4.09 per cent on high volume of 82.83 lakh shares. Reliance Industries, a heavyweight in the index, dropped 3.13 per cent, significantly contributing to the market decline. Banking stocks continued their downward trend with IndusInd Bank falling 2.62 per cent. Bajaj Finserv and Bajaj Auto rounded out the top losers, declining 2.55 per cent and 1.84 per cent respectively.
On the positive side, UltraTech Cement led the gainers with a 2.75 per cent rise. Eicher Motors advanced 2.44 per cent, while BEL gained 2.37 per cent. Grasim Industries and Wipro also showed strength, climbing 2.09 per cent and 2.05 per cent respectively.
Circuit filters were triggered for numerous stocks, with 547 hitting lower circuit limits compared to 143 touching upper circuits.
The market’s weakness follows mixed opening cues, as Foreign Institutional Investors (FIIs) continued their selling spree with net sales of ₹11,639 crore in equities. While Domestic Institutional Investors (DIIs) provided some cushion with purchases of ₹12,308.6 crore, concerns over potential US tariffs and global market volatility continued to weigh on investor sentiment.
Technical analysts maintain that 22,100-21,800 range serves as immediate support for the Nifty, with today’s trading suggesting this level is being tested as the index hovers just below the 22,100 mark.