Stock Market Bleeds Again: Sensex Falls 700 Points, Reliance and ICICI Bank Lead Losses

The Indian stock market continued its downward slide on Monday, extending last week’s losing streak. During early trading, the BSE Sensex dropped over 700 points, while the NSE Nifty 50 fell below 25,550. Heavy losses were seen in major stocks including Reliance Industries and ICICI Bank.

By 12:00 PM, the Sensex was trading at 82,953.36, down 622.88 points (0.75%), and the Nifty stood at 25,513.50, down 169.80 points (0.88%). Last week, the Sensex fell nearly 2,200 points, while the Nifty declined 2.5%.

Major Movers

Shares of Larsen & Toubro, Power Grid, Reliance Industries, Adani Ports, Etronics, BEL, Bharti Airtel, Infosys, Ultratech Cement, ICICI Bank, Tech Mahindra, Bajaj Finserv, and IndiGo witnessed the sharpest declines. On the upside, Hindustan Unilever, ITC, and Axis Bank recorded the highest gains.

Broader Market Performance

• Nifty Midcap Index: down 1%
• Nifty Smallcap Index: down 1.5%
• Nifty Realty Index: down 1.6%
• Nifty Pharma Index: down 0.97%
• Nifty Auto Index: down 0.6%
• Nifty IT Index: down 0.5%
• Nifty Bank Index: down 0.5%

Market analysts noted that the continued decline reflects investor caution amid domestic and global uncertainties, with key sectors and large-cap stocks bearing the brunt of the sell-off.