- Indian equities fell Monday amid renewed West Asia tensions.
- Sensex dropped 372 points; Nifty50 closed below 24k.
- IT, banking, auto stocks led broad-based market selling.
Indian equity benchmarks ended Monday’s session in the red as investors turned cautious amid renewed geopolitical tensions in West Asia, prompting broad-based selling across information technology, banking and automobile stocks.
The BSE Sensex settled the session about 372 points down, inching near 76,700, while the NSE Nifty50 closed trading below 24k, dropping about 80 points.
Weak global cues and rising uncertainty surrounding the latest developments in the US-Iran conflict weighed on market sentiment throughout the session, with benchmark indices extending losses in afternoon trade. Markets remained under pressure as investors assessed the implications of renewed military tensions in West Asia.
The latest developments in the region fuelled concerns over potential disruptions to global trade and energy supplies, leading traders to trim exposure to riskier assets. The cautious mood also resulted in profit booking across several heavyweight counters.
IT, Banking And Auto Stocks Drag Markets Lower
Selling pressure was concentrated in rate-sensitive and heavyweight sectors.
The Nifty IT index emerged as the biggest sectoral loser, while banking and automobile shares also witnessed sustained selling during the session.
Among the Nifty 50 constituents, Eicher Motors, Kotak Mahindra Bank and Tata Consumer Products were among the worst-performing stocks, highlighting the broad-based weakness across frontline counters.
Also Read : Gold Silver Rate Today (June 29): Prices Fall, Check Latest Rates In Delhi, Mumbai, Chennai, More
