Indian Stock Market Witnesses Sharp Selling Amid Global Cues

The Indian stock market experienced a sharp decline on Monday, with the Nifty 50 index crashing 312 points to close at 24,865. The BSE Sensex nosedived 1,048 points to close at 80,238, while the Bank Nifty index corrected 689 points to finish at 59,839. The weakness was not confined to frontline indices, as broader markets also faced pressure, with the Nifty Midcap index declining nearly 1.5% and the Small-cap index dropping around 1.75%.

Higher crude prices remain a key macro headwind for India, exerting pressure on inflation, currency stability, and corporate margins. On the sectoral front, selling pressure remained broad-based, with the Nifty Auto, Consumer Durables, Oil & Gas, and Realty indices witnessing notable declines in the range of 1–3%.

Defensive sectors such as Pharma and Metals showed marginal recovery, offering limited support to the market. The India VIX hovered near 17, signalling elevated hedging activity and choppy price action. Persistent foreign institutional outflows continue to weigh on sentiment, even as steady domestic institutional inflows offer a partial cushion.

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Key Market Metrics

• Nifty 50: 24,865 (-312 points)
• BSE Sensex: 80,238 (-1,048 points)
• Bank Nifty: 59,839 (-689 points)
• India VIX: 17
• FII outflow: ₹3,295 crore
• DII inflow: ₹8,594 crore

Sectoral Performance

• Nifty Auto: -2.5%
• Consumer Durables: -2.1%
• Oil & Gas: -2.8%
• Realty: -2.5%

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Precious Metals

• COMEX gold rate: $5,150/oz (intraday gain: 0.5%)
• COMEX silver rate: $81.740/oz (intraday loss: 0.5%)
• MCX gold rate: ₹1,58,000 - ₹1,65,000 per 10 gm
• MCX silver rate: ₹2,55,000 - ₹2,80,000 per kg