Indian stock markets ended sharply lower on Monday, October 19, as investors booked profits and sold shares in private banks and information technology companies. The market is closed today for the Dussehra holiday, leaving investors to assess the fall before trading resumes on Wednesday.
The BSE Sensex dropped 876.38 points, or 1.17%, to close at 73,852.90. The NSE Nifty fell 257.20 points, or 1.11%, to 22,888.95. The total market value of BSE-listed companies declined by around ₹5.54 lakh crore in a single session.
What caused the fall?
After gains in the previous week, some investors chose to book profits. Selling pressure in banking and IT shares added to the decline. Brent crude oil prices near $108 a barrel and a rise of more than 5% in India VIX to 14.77 also reflected market uncertainty.
Which stocks fell the most?
Axis Bank dropped 4.2% after its quarterly profit came in slightly below expectations. Yes Bank fell 3.5%, Infosys declined 2.6%, and HDFC Bank lost 2.3%.
Which stocks gained?
Union Bank of India rose 5.3%, while Punjab National Bank gained 4.8% after reporting a 13% rise in profit.
What should investors watch on Wednesday?
Investors may track global markets, crude oil prices, bank and IT shares, and volatility. Monday’s decline does not guarantee another fall or a recovery.
This report is for information only and is not investment advice.
