Stock market today: Indian stock market benchmarks—the Sensex and the Nifty 50—ended in negative territory on Monday, September 29, extending their losing streak to the seventh consecutive session.
The Sensex ended 62 points, or 0.08 per cent, lower at 80,364.94, while the Nifty 50 settled at 24,634.90, down 20 points, or 0.08 per cent.
The BSE Midcap index outperformed, rising 0.34 per cent, but the Smallcap index slipped 0.17 per cent.
ICICI Bank, Axis Bank, and Bharti Airtel were the top drags on the Sensex, while HDFC Bank and SBI offered the strongest support to the index.
Indian stock market: 10 key highlights from the day
1. Why is the Indian stock market falling?
The Indian stock market’s fall over the last seven sessions could be largely attributed to US President Donald Trump’s fresh protectionist measures—an H-1B visa fee hike and a tariff on pharma imports. Relentless selling by foreign institutional investors (FIIs) and the lack of fresh positive triggers are also affecting market sentiment.
“The domestic market concluded a volatile session on a flat note as investors turned more cautious ahead of a holiday-led truncated week and continued FII selling. Lack of clarity in the US-India trade deal and prolonged pressure on IT and pharma indices are near-term concerns for the market,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Nair observed that investors await the RBI policy outcome on Wednesday, and the central bank is expected to keep the rates unchanged to contain volatility in the rupee.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
