Benchmark stock market indices closed lower on Monday, following no fresh triggers as markets consolidated with experts hoping for a positive 2026. Profit-booking also contributed to market decline.
The S&P BSE Sensex lost 345.91 points to end at 84,695.54, while the NSE Nifty50 was down by 100.20 points to close at 25,942.10.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the market appears short on catalysts for further upside, with investors largely in holiday mode, signalling a potential consolidation phase in the near term.
“While the outlook for 2026 remains constructive, attention is expected to shift toward upcoming Q3 earnings and clarity on the U.S. trade agreement. In an environment of global trade anxiety and a weakening rupee, investors are likely to favour large-cap stocks for their relative safety and stronger earnings visibility,” he added.
Among the top five gainers, Tata Steel led the pack with a rise of 1.71%, followed by Asian Paints, which gained 1.00%. Hindustan Unilever was up 0.54%, Eternal added 0.50%, and NTPC rose 0.45% by the end of trade.
On the losing side, the market weakness was clearly visible. Adani Ports and Special Economic Zone emerged as the biggest loser, falling 2.24%. HCL Technologies slipped 1.83%, Power Grid Corporation of India dropped 1.81%, Trent declined 1.35%, and Bharat Electronics fell 1.26%.
Rupak De, Senior Technical Analyst at LKP Securities, said that Nifty witnessed profit booking during the session, leading to a decline in the market.
“On the derivatives front, 26,000 PE put writers unwound their positions as the index slipped below this level. The trend has weakened as the index moved below the 21 EMA; additionally, it has retraced more than 50% of the previous rise, casting doubt over the sustainability of the recent rally. On the downside, support is placed at 25,900, while on the upside, the 26,000 level is likely to act as the initial resistance,” he added.
