Benchmark stock market indices witnessed a selling spree and shed over 1% on the last trading day of the month. Dalal Street saw a broad-based decline led by auto and financial sector stocks, with IT ending in green.
The S&P BSE Sensex tanked 961.42 points to close at 81,287.19, while the NSE Nifty50 lost 317.90 points to end at 25,178.65.
Vinod Nair, Head of Research, Geojit Investments Limited, said that markets continued to consolidate amid weak global cues and rising geopolitical risks, with investor sentiment turning increasingly cautious.
“The lack of progress in US–Iran nuclear talks has intensified concerns of further escalation of Middle East tensions, while persistent AIrelated uncertainty is also supporting safehaven flows. Domestically, a riskoff tone prevails as the earnings season winds down and global macro factors take precedence,” he added.
Although IT stocks are witnessing selective lowlevel buying after recent corrections, the broader trend remains subdued. With FIIs staying cautious and volatility likely to resurface, markets may continue to trade within a narrow range. India’s Q3 GDP prints due later today, expected to reflect underlying resilience, could offer some support at the margin.
