Benchmark stock market indices started the week on a negative note by opening lower on Monday, as investor sentiment was affected by uncertainties surrounding a potential conflict with Iran. Additionally, the increase in crude oil prices contributed to the overall bearish sentiment in the market.
As of 9:21 am, the S&P BSE Sensex experienced a decline of 1,066.36 points, standing at 72,516.86, while the NSE Nifty50 dropped by 316.30 points to 22,503.30.
Hitesh Tailor, a Technical Research Analyst at Choice Equity Broking Private Limited, recommended that investors maintain a disciplined and selective approach during these volatile times.
The market saw Bharat Electronics Ltd leading the gains after the opening bell, with a rise of 1.14%. Conversely, Axis Bank Ltd recorded the sharpest fall, dropping by 4.02%.
Volatility increased as indicated by the rise in India VIX by 5.55%, and broad market weakness was evident with Nifty Midcap 100 falling by 1.11% and Nifty Smallcap 100 declining by 1.02%.
Most sectoral indices were in the red, with Nifty PSU Bank dropping by 1.82%, Nifty Private Bank falling by 1.98%, and Nifty Financial Services 25/50 down by 1.35%. On the other hand, Nifty Metal showed an increase of 1.41%, Nifty Oil & Gas gained 0.85%, and Nifty Media was up by 0.66%.
Investors are advised to exercise caution and seek professional advice before making any investment decisions, as the opinions and recommendations expressed by experts do not necessarily reflect those of the India Today Group.