Punjab Newsline | New Delhi
Indian stock market witnessed a sharp decline on Monday as negative global cues and profit-booking by investors triggered heavy selling across sectors. The risk-off sentiment weighed heavily on equities, dragging benchmark indices lower and reflecting broader weakness across Asian and European markets.
The BSE Sensex dropped 645.51 points, or 0.86%, to trade at 73,597.83. During the session, the index plunged more than 700 points as investors rushed to reduce exposure amid growing concerns over global economic and geopolitical developments.
Similarly, the NSE Nifty fell 199.80 points, or 0.86%, to 23,166.90. The benchmark index briefly slipped below the crucial psychological level of 23,150 during intraday trading before recovering some losses.
The decline was driven by a combination of weak global market sentiment, continued geopolitical uncertainties, and investor profit-booking after recent market gains. Broader market weakness was also visible across major Asian and European exchanges.
Meanwhile, the Indian rupee came under pressure, opening 17 paise lower at 95.35 against the US dollar. The domestic currency weakened due to the strength of the US dollar in international markets, supported by robust American economic data and persistent global uncertainty.
Market analysts believe investors will closely monitor global economic indicators, central bank signals, and geopolitical developments for further direction in the coming sessions.
