Indian stocks relinquished their early upward movement, closing significantly lower on Monday. This downturn was largely attributed to persisting geopolitical tensions in the Middle East, ongoing foreign institutional investor (FII) outflows, and investor caution as the Reserve Bank of India's upcoming monetary policy meeting approaches. Additionally, market participants await the release of corporate earnings for the September quarter and the outcome of state elections in Haryana and Jammu and Kashmir, scheduled for October 8.
The BSE Sensex, a key 30-share index, declined by 638.45 points, marking a drop of 0.78%, settling at 81,050. Meanwhile, the NSE Nifty index witnessed a more substantial decrease, falling 218.85 points or 0.87%, closing the session at 24,795.75.
In the Nifty portfolio, NTPC, Coal India, Adani Enterprises, BEL, and Adani Ports saw declines ranging from 3% to 4%. In contrast, ITC, Bharti Airtel, Mahindra & Mahindra, and Trent reported gains of 1% to 2%.
Power & Instrumentation (Gujarat) surged by 5% following the announcement of the successful completion of a project for the Department of Atomic Energy's Nuclear Fuel Complex (NFC) in Kota, valued at Rs 10.18 crore.
