Stock market recap: Indian equities gave up early gains and ended lower on Monday as rising bond yields and persistent foreign selling outweighed Friday's relief rally. Nifty 50 fell 157.10 points, or 0.70%, to close at 22,363.35, after opening higher and touching 22,651.10, while Sensex lost 547.65 points, or 0.76%, to settle at 71,924.68, more than 950 points below its intraday high.
India's 10-year bond yield rose to a three-year high of about 7.37% after the RBI tightened banks' daily cash reserve rules to drain surplus liquidity. Foreign investors sold about ₹45,125 crore of Indian shares in October's first six sessions, nearly matching September’s total. Iran's rejection of the latest U.S. peace proposal and weak Asian markets added to the caution, although the rupee gained about 1% after the RBI's weekend steps to curb dollar demand.
FMCG was the weakest sector, falling 1.67% on losses in ITC, Dabur, and HUL, followed by PSU Banks and IT. Media rallied 4.60%, while Autos, Realty, and Pharma ended higher. Breadth was evenly balanced, with 1,795 stocks advancing, 1,798 stocks declining, and 113 remaining unchanged. Upcoming inflation data and quarterly earnings will be key.
Buy: Pearl Global Industries Limited (current price: ₹1,330)
Indian equities ended lower on Monday, with Nifty 50 closing at 22,363.35, down 157.10 points or 0.70%, while Sensex declined around 600 points to 71,872. Nifty reversed early gains as investors remained cautious amid persistent foreign selling, elevated global bond yields, tighter domestic liquidity and geopolitical uncertainty. Sector performance was mixed. FMCG (-1.67%), PSU Banks (-1.18%), IT (-0.79%), and Financial Services (-0.40%) was the weak performers. Media was the standout performer, gaining 4.60%, while Auto, Realty, and Pharma rose 0.90%, 0.76% and 0.45%, respectively.