Stock market today: Nifty50 ends below 26,000; BSE Sensex down over 340 points

Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, ended in red on Monday as selling pressure in oil and gas and information technology stocks, continued foreign fund withdrawals and subdued year end activity weighed on market sentiment.

Nifty50 posted its third consecutive decline, easing 100.20 points, or 0.38 per cent, to finish at 25,942.10. Sensex also extended its losing streak for a fourth straight session, falling 345.91 points, or 0.41 per cent, to close at 84,695.54.

Among Sensex constituents, shares of Adani Ports, HCL Tech, Power Grid, Trent, Bharat Electronics and Bharti Airtel were the top losers. In contrast, Tata Steel, Asian Paints, Nestle India, NTPC, and Eternal were the top gainers.

"The market appears short on catalysts for further upside, with investors largely in holiday mode, signalling a potential consolidation phase in the near term," said Vinod Nair, head of research at Geojit Investments Limited.

Ajit Mishra, senior vice president for research at Religare Broking Ltd, said investor mood continues to be shaped by global developments and stock specific factors. "Trading volumes remained light, with participants preferring selective exposure rather than broad-based positions in the absence of any major triggers," he said.

Asian markets delivered mixed cues. South Korea’s Kospi surged more than 2 per cent, while China’s Shanghai Composite ended marginally higher. Japan’s Nikkei 225 and Hong Kong’s Hang Seng closed in the red. European equity markets were mostly trading lower during the session. On Wall Street, US stocks ended flat on Friday.

According to exchange data, foreign institutional investors sold shares worth Rs 317.56 crore on Friday, while domestic institutional investors provided support by purchasing equities worth Rs 1,772.56 crore.

In the commodities market, Brent crude oil rose 1.70 per cent to $61.67 a barrel.

On Friday, the Sensex had declined 367.25 points, or 0.43 per cent, to settle at 85,041.45, while the Nifty slipped 99.80 points, or 0.38 per cent, to close at 26,042.30.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)