Dalal Street End Lower as IT Stocks Drag; Geopolitical Tensions Weigh on Sentiment
What Happened
Indian equities closed in the red on Monday amid broad-based selling, with pressure from IT stocks and concerns over rising crude oil prices linked to US-Iran tensions. The Sensex fell 464 points (0.61%) to 76,051.42, while the Nifty 50 declined 118.55 points (0.50%) to 23,779.15. Bank Nifty also ended lower at 57,088.30, down 0.49%.
Key Takeaways
Investor sentiment remained cautious as geopolitical risks and higher oil prices raised concerns about inflation and global growth. IT stocks were among the biggest losers, with Infosys, Wipro and TCS leading the decline, while volatility increased with the India VIX rising over 4%.