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Indian equity markets remained in a wait-and-watch mode on Monday, with the Nifty index closing below the 25,500 mark. Caution prevailed in a range-bound session as investors awaited developments on the US-India trade deal and looked for cues from the first-quarter earnings season, which kicks off this week.
The Sensex closed 9 points higher at 83,442, while the Nifty 50 ended flat at 25,461. Broader markets saw mild selling pressure, with the Nifty Midcap index closing 0.3% lower, while the Nifty Smallcap index fell 0.4%.
However, the retail investor sentiment surrounding the Nifty 50 remained ‘bullish’ on Stocktwits.
Sectorally, FMCG was the biggest gainer, rising 1.7%, followed by marginal gains in the oil and gas and realty sectors. On the other hand, media, metals, and IT stocks saw selling pressure.
Among FMCG stocks, Dabur (+3%) and Godrej Consumer (+6%) shares rallied as the street cheered their strong operational update for the first quarter (Q1 FY26). HUL was the top Nifty gainer, gaining 3%.
Meanwhile, Jubilant Foods and Info Edge fell 4% on a disappointing Q1 outlook.
Defense stocks continued to trend lower, led by BEL, which was the top Nifty loser (-3%). Other stocks, such as GRSE (-3%), Paras Defence (-5%), and Astra Micro (-4%), also ended lower. DCX Systems (+3%) bucked the trend on an order win.
Jaiprakash Power Ventures (JP Power) ended 20% higher following media reports that the Adani Group has emerged as the top bidder to acquire Jaiprakash Associates (JP Associates).
Globally, European markets traded mixed, while US stock futures indicate a positive start on Wall Street. Crude oil prices edged lower after OPEC+ output was boosted more than estimated.
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