Nifty at 23,400, Sensex Down 121 pts; Realty, Metals Drag
The Indian stock market ended a volatile session on a negative note on Monday, with the benchmark Nifty 50 settling at 23,400 while the BSE Sensex closed 121 points lower. After trading in a wide range through the day, selling pressure in realty and metal stocks pulled the indices down from their intraday highs. Analysts say the market struggled for direction as investors weighed mixed global cues and sector-specific profit booking.
Realty and metals emerged as the top drags on the benchmarks, with profit-taking visible in these high-beta sectors after recent gains. The broader market also witnessed a mixed trend, with midcap and smallcap indices showing divergent moves. Market breadth remained weak, reflecting cautious sentiment. Analysts say volatility is likely to persist as the market approaches key macroeconomic data releases and global central bank policy meetings.
Here is a snapshot of the key index levels at close:
| Index | Closing Level | Change |
|---|---|---|
| Nifty 50 | 23,400 | Down |
| BSE Sensex | — | Down 121 pts |
Analysts say the volatile session reflects investor uncertainty ahead of key global events, with realty and metals facing the brunt of profit booking.
Sector-wise, realty and metal indices were the worst performers, dragging the broader market lower. Other sectors showed a mixed picture, with some defensive names attracting buying interest. The India VIX, a measure of market volatility, moved higher during the session, indicating rising nervousness among traders. Analysts say the market may continue to consolidate in the near term unless fresh triggers emerge.
Looking ahead, investors will keep an eye on global cues, crude oil prices, and foreign institutional investor (FII) activity. The rupee's movement against the dollar and bond yields will also be monitored. Analysts say that while the long-term India growth story remains intact, short-term volatility could test investor patience. For now, the closing bell rings with the Nifty at 23,400 and the Sensex down 121 points, capping a choppy day for Dalal Street.
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