As of the market opening on Monday, benchmark stock market indices in India opened flat with a slight negative bias. The cautious sentiment was influenced by a decline of over 2 per cent in the shares of heavyweight company Reliance Industries Limited (RIL) in early trade.
The previous trading session had seen a sharp fall in both benchmark indices, which has added to the uncertainty among investors. Market participants are likely being cautious and closely monitoring the market conditions amid these fluctuations.
As of 9:38 am, the S&P BSE Sensex was down nearly 30 points at 66,654.39, and the NSE Nifty 50 had declined by 11.40 points to 19,733.60.
Market movements can be influenced by various factors, including global market trends, economic indicators, corporate earnings, and investor sentiment. Investors should remain vigilant, stay informed about market developments, and consider their investment goals and risk tolerance when making investment decisions.
The Nifty Realty and Nifty Auto sectors were the top gainers among the sectoral indices, while the Nifty Oil & Gas sector faced the most significant decline, falling by 0.55 per cent.
Among the top five gainers on the Nifty 50 index were Mahindra & Mahindra (M&M), Larsen & Toubro (L&T), Axis Bank, IndusInd Bank, and Grasim. Conversely, Kotak Mahindra Bank, Reliance Industries Limited (RIL), JSW Steel, and Hindustan Unilever (HUL) experienced losses.
Reliance Industries Limited’s shares faced a decline after the company announced weak Q1 results, which were released after market hours on Friday. The disappointing financial results have contributed to the cautious sentiment prevailing in the market.
