Stock Market Woes: Sensex and Nifty Face Slump Amid Global Uncertainties

Equity benchmark indices Sensex and Nifty witnessed a downturn on Monday, impacted by substantial selling pressure in Reliance Industries and Kotak Mahindra Bank, alongside a weak global equity market trend. The 30-share BSE Sensex fell 102.57 points to 80,502.08, while NSE Nifty dropped 21.65 points to 24,509.25.

Equity benchmark indices Sensex and Nifty encountered a decline on Monday, driven by significant selling pressure in Reliance Industries and Kotak Mahindra Bank, as well as a weak trend in global equity markets, traders reported.

For the second consecutive day, the 30-share BSE Sensex fell 102.57 points or 0.13% to close at 80,502.08. Earlier in the session, it plummeted 504 points or 0.62% to 80,100.65. Similarly, the NSE Nifty decreased 21.65 points or 0.09% to 24,509.25, reaching a low of 24,362.30 during intraday trading, a decline of 168.6 points or 0.68%.

Among the major laggards were Reliance Industries, which dropped over 3% following a 5% reduction in its June quarter net profit, and Kotak Mahindra Bank, which fell over 3% after disappointing earnings. Conversely, NTPC, UltraTech Cement, HDFC Bank, and Mahindra & Mahindra were among the gainers, with HDFC Bank seeing a climb of over 2% post a 33.17% rise in June quarter net profit.