Mumbai: There was a big fall in the Indian stock market in Monday's trading session. All the market indices closed in the red. At the close of trading, Sensex fell 1,272 points or 1.49 per cent to 84,299 and Nifty fell 368 points or 1.41 per cent to 25,810.
The decline was led by banking stocks. Nifty Bank closed at 52,978 with a decline of 856 points or 1.59 per cent. Due to the recession, the market cap of all the listed companies listed on Bombay Stock Exchange (BSE) reduced by about Rs 4 lakh crore to Rs 474 lakh crore.
JSW Steel, NTPC, Tata Steel, Titan and Asian Paints were the top gainers in the Sensex pack. Reliance, Axis Bank, ICICI Bank, Nestle, Tech Mahindra, M&M, Maruti Suzuki, Bajaj Finserv, Tata Motors, SBI, Infosys and Sun Pharma were the top losers.
Midcap and smallcap saw less decline than largecap. The Nifty Midcap 100 index closed 227 points or 0.38 per cent lower at 60,153 and the Nifty Smallcap 100 index closed 62 points or 0.32 per cent lower at 19,179.
Auto, IT, PSU Bank, Fin Service, Pharma, FMCG, Realty, Energy, Private Bank and Infra were the biggest falling indices. Only metal and media indices closed in the green. Rupak De, Senior Technical Advisor at LKP Securities, says that Nifty had closed weak in the last trading session. A huge fall was seen in Nifty in today's session. This shows that market sentiment remains weak in the short term. If Nifty breaks 25,750, it may go down further. However, 26,000 is still a resistance level.
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