Stock market today: The domestic benchmark indices Sensex and Nifty settled in the red for the second day in a row on Monday, kicking off the week on a tepid note, as the selloff in IT stocks amid the Trump administration’s directive to impose $100,000 fee for new H-1B worker visas.
Index heavyweights Reliance Industries and HDFC Bank also dragged the indices lower. Meanwhile, the global mood remained cautious, rubbing off on Indian markets.
The Nifty 50 index lost 0.49% or 125 points to end at 25,202, while its BSE counterpart Sensex shed 0.56% or 466 points to settle at 82,160.
Indian stock market: 10 key highlights from the day
Here are the top 10 highlights from trade today:
1. Why did the Indian stock market fall today?
Explaining today’s market fall, Ashika Institutional Equities, said that Indian markets witnessed a volatile trading session today, swinging between gains and losses. The day began on a weak footing, as negative global cues and concerns over the $100,000 H-1B visa fee for new applicants dampened sentiment.
Benchmark indices opened with a gap-down start, mirroring the cautious mood in global markets. Despite the weak opening, the market quickly filled the gap and attempted a recovery.
However, selling pressure resurfaced, dragging the Nifty to its intraday low as profit-booking dominated the latter half of the session.
