The nifty stock index closed below the key 24,000 level on Monday as renewed geopolitical tensions in West Asia sparked risk-off sentiment among investors. Selling pressure in auto, banking, and information technology stocks dragged the broader market lower, while defensive sectors such as pharma and power managed to cushion some of the losses.
The BSE and Sensex also ended firmly in the red, reflecting cautious investor sentiment amid rising global uncertainty and a spike in the crude oil price. The monthly expiry of BSE Sensex options further added to market volatility, resulting in sharp intraday swings.
Market Snapshot
| Index | Closing Level | Change | % Change |
| Nifty 50 | 23,947 | -109 points | -0.46% |
| BSE Sensex | 76,728 | -372 points | -0.48% |
| India VIX | 13.56 | 0.0393 | Higher Volatility |
| Brent Crude | $72.81/barrel | Higher | Inflation Concern |
Nifty Stock Index Slips Below 24,000
The benchmark nifty stock index of the National Stock Exchange declined 109 points, or 0.46%, to settle at 23,947, falling below the important psychological support of 24,000. At the same time, the BSE and Sensex witnessed broad-based selling, with the Sensex of BSE falling 372 points to close at 76,728.
The decline followed fresh geopolitical tensions between the United States and Iran over the weekend, prompting investors to reduce exposure to equities. The rising crude oil price, which moved closer to $72.81 per barrel, further dampened sentiment as higher oil prices could increase inflationary pressures and widen India’s import bill.
Market breadth remained weak throughout the session, with declining stocks significantly outnumbering advancing shares on the National Stock Exchange, indicating widespread selling across sectors.
Auto, Banking and IT Stocks Lead the Decline
Auto stocks emerged as the biggest drag on the market. Mahindra & Mahindra declined 2.46%, while Maruti Suzuki lost more than 2%, pulling the Nifty Auto index lower. Investors also monitored the Tata Motors share price, which remained under pressure amid weakness across the automobile sector.
Banking stocks witnessed heavy profit booking. Kotak Mahindra Bank was the top loser on the benchmark index, while the HDFC Bank share price, SBI share price, and YES Bank share price remained in focus as investors assessed sector-wide trends.
The IT sector also traded weak due to cautious global cues. Market participants closely tracked the TCS share price, as concerns over global demand continued to weigh on technology stocks.
Meanwhile, the Reliance share price declined 1.56%, making the energy giant one of the biggest contributors to the benchmark’s fall. Rising crude oil price remains an important factor influencing investor sentiment towards Reliance Industries and the broader energy sector.
Top Gainers and Losers
| Category | Stocks | Performance |
| Top Gainers | Dr. Reddy’s Laboratories | 0.0218 |
| Coal India | 0.0172 | |
| Cipla | Positive | |
| NTPC | Positive | |
| Top Losers | Kotak Mahindra Bank | -2.96% |
| Mahindra & Mahindra | -2.46% | |
| Maruti Suzuki | -2.12% | |
| Reliance Industries | -1.56% |
Pharma and Power Stocks Offer Support
While broader markets remained under pressure, defensive sectors witnessed buying interest.
Dr. Reddy’s Laboratories climbed 2.18% to hit a fresh 52-week high, while Cipla and Max Healthcare also ended higher. Investors preferred healthcare stocks amid growing global uncertainty.
Power and infrastructure stocks also attracted institutional buying. Coal India, NTPC, and Power Grid Corporation posted gains during the session, while the Adani Power share price remained in focus as investors continued to monitor opportunities in the power sector.
Although these gains provided some support, they were insufficient to offset the losses in auto, banking, and IT stocks.
Stocks to Watch
| Stock | Why It Is in Focus |
| Reliance share price | Rising crude oil price may impact refining margins. |
| Tata Motors share price | Auto sector witnessed sharp selling pressure. |
| HDFC Bank share price | Banking stocks remained under pressure. |
| SBI share price | PSU banking stocks will remain in focus. |
| YES Bank share price | Investors tracking banking sector momentum. |
| TCS share price | Weak global IT sentiment may influence movement. |
| Adani Power share price | Continued interest in power and infrastructure stocks. |
| Nifty share price | Traders watching the crucial 24,000 support level. |
Global Cues and Technical Outlook
Asian markets traded lower as investors reacted to geopolitical developments and a subdued finish on Wall Street. The rise in the crude oil price added another layer of uncertainty for emerging markets, including India.
Despite the short-term weakness, India’s macroeconomic fundamentals remain supportive. The Reserve Bank of India’s latest data showed foreign exchange reserves rising by $963 million to $672.587 billion, providing a strong buffer against external risks.
From a technical perspective, analysts believe the nifty stock index has entered a consolidation phase. Immediate support is placed near 23,800, while resistance lies between 24,150 and 24,200. A sustained move above this range could revive bullish momentum.
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