Indian equity benchmarks witnessed a sharp sell-off on Monday, with the Sensex plunging more than 700 points and the Nifty 50 settling below the crucial 23,150 mark amid broad-based weakness across sectors. The decline was led by Wipro, Jio Financial and Eternal.
The BSE Sensex declined 0.97% to close at 73,524.26, while the NSE Nifty 50 fell 1.04% to end at 23,123. The benchmark indices extended losses for a second consecutive session, reflecting weak investor sentiment and heavy selling pressure across large-cap, mid-cap and small-cap stocks.
Broader markets underperformed the headline indices, highlighting the extent of the market weakness. The Nifty Midcap 150 index ended over 1.5% lower, while the Nifty Smallcap 250 index dropped more than 2%.
Among the Nifty constituents, Wipro emerged as the biggest loser of the day, tumbling 8.45%. The sharp decline in the IT major weighed heavily on the benchmark index and dragged the broader technology pack lower.
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Jio Financial Services was another major laggard, ending the session 3.39% lower. Food delivery and quick commerce player Eternal slipped 3.2%, while Shriram Finance declined 2.89% amid broad-based selling in financial stocks.
The weakness was not limited to a handful of counters, as all sectoral indices closed in negative territory. Nifty Realty was the worst-performing sector of the day, plunging more than 3%, reflecting heightened pressure on real estate stocks. Other key sectors, including financials, consumer stocks and industrials, also ended in the red.
Despite the market-wide sell-off, a few stocks managed to buck the trend. Max Healthcare Institute emerged as the top gainer among Nifty constituents, rising 2.95%. Defensive buying and stock-specific interest helped the healthcare major outperform the broader market.
Power Grid Corporation also closed higher, gaining 1.52%, while Tech Mahindra advanced 1.34%. Defence major Bharat Electronics added 1%, and FMCG heavyweight Nestle India rose 0.92%, providing limited support to the benchmark indices.
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