The Indian stock market came under pressure on Monday as global uncertainty and sustained foreign investor selling weighed on benchmark indices. The BSE Sensex dropped more than 600 points to an intraday low of 71,845, while the Nifty 50 slipped 0.75% to 22,352.
However, the broader market showed a different trend. The Nifty Midcap 150 gained 0.60%, and the Nifty Smallcap 250 advanced 1.4%, indicating that buying interest persisted in select smaller companies despite weakness in frontline stocks.
3 Reasons Behind the Stock Market Decline
1. Banking and IT Stocks Lead Losses
Heavy selling in banking and information technology shares pulled the benchmark indices lower. The Nifty Bank index declined 1%, while the Nifty IT index fell 1.2% during the session.
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Several heavyweight stocks also faced selling pressure. Around 2 pm, Bharti Airtel, ICICI Bank, Reliance Industries, ITC, Larsen & Toubro and State Bank of India were among the major contributors to the Sensex decline.
Because large banking and technology companies carry significant weight in the benchmark indices, losses in these stocks can have an outsized impact on overall market performance.
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