The BSE Sensex closed at 73,085.94, falling by 112.16 points (0.15%), after swinging between 73,649.72 and 72,784.54 during the day.
The NSE Nifty50 ended almost flat at 22,119.30, down 5.40 points (0.02%), after hitting an intraday high of 22,261.55 and a low of 22,004.70.
This marks the ninth consecutive losing session for the Nifty50, signaling persistent weakness in the markets.
Among broader markets:
- Nifty Midcap100 saw some buying interest and ended 0.14% higher.
- Nifty Smallcap100 struggled, falling by 0.27%.
Despite the market ending lower, 33 out of 50 Nifty50 stocks managed to close in the green.
Impact on the stock market
The market ended on a mixed note, with some sectors recovering while others continued their downward spiral.
Gainers:
- Nifty IT: Up 1.26%, snapping a 7-day losing streak.
- Metal, Auto, Pharma, Realty, and Healthcare: Gained up to 1.26%.
Losers:
- Banking, Oil & Gas, and Media: Dropped by up to 1.10%.
The IT sector saw a technical rebound, with stocks like Tech Mahindra, Wipro, and Infosys gaining up to 3%. However, analysts cautioned that this was a short-term bounce rather than a trend reversal.
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| Sector/Index | Performance |
| IT & BPM sector | 0.79% |
| Healthcare sector | 0.42% |
| Oil & Gas sector | -0.80% |
| Real estate sector | 1.26% |
| PSU Bank in India | -0.37% |
Top gainers today
| Company | Price | Change % |
| Bharat Elec Share Price | 257.39 | 4.52 |
| Grasim Share Price | 2,377.45 | 3.07 |
| Eicher Motors Share Price | 4,906.60 | 2.79 |
| JSW Steel Share Price | 976.05 | 2.67 |
| BPCL Share Price | 242.41 | 2.15 |
Top losers today
| Company | Price | Change % |
| Coal India Share Price | 360.35 | -2.44 |
| Reliance Share Price | 1,171.25 | -2.40 |
| Bajaj Auto Share Price | 7,714.80 | -2.38 |
| Bajaj Finserv Share Price | 1,838.55 | -1.80 |
| HDFC Bank Share Price | 1,701.55 | -1.78 |
Market aftermath: Impact on stocks
AstraZeneca Pharma surges 3% on CDSCO nod for expanded cancer drug use
AstraZeneca Pharma India saw a 3% rise, touching ₹6,890 in afternoon trade after receiving regulatory approval from the Central Drugs Standard Control Organisation (CDSCO) to expand the use of Imfinzi for advanced-stage liver cancer.
This marks an important step in AstraZeneca’s oncology portfolio, though further approvals are required before the expanded use of the drug is launched in India.
Despite today’s gains, the stock remains 8% down over the last month and 6% lower year-to-date.
Tech stocks snap losing streak, but is it just a temporary bounce?
The Nifty IT index gained 1.6%, recovering after a 7-day losing streak. Stocks such as Tech Mahindra, Wipro, and Infosys surged up to 3%, making IT the top-performing sector of the day.
However, analysts warn that this rally is likely a technical rebound rather than a long-term shift. The IT sector remains under pressure due to weak performance in US tech stocks and ongoing global trade concerns.
Persistent Systems was the only IT stock in the red, declining over 1%.
Indian Overseas Bank (IOB) hits a 52-week low for the second straight session
Public sector lender Indian Overseas Bank (IOB) hit a new 52-week low at ₹41.01, tumbling 5.7% after receiving a ₹699 crore demand notice from tax authorities over alleged GST liabilities for the assessment year 2020-21.
The bank has challenged the notice legally, arguing that the demand lacks legal merit.
IOB’s stock has now fallen nearly 16% since the start of 2025, reflecting investor concerns over regulatory hurdles.
Crude oil prices rise on improved Chinese manufacturing data
Crude oil prices saw an uptick on Monday following better-than-expected manufacturing data from China.
- May Brent oil futures: Up 0.48% at $73.16 per barrel.
- April WTI crude oil futures: Up 0.50% at $70.11 per barrel.
- March crude oil futures (MCX India): Up 0.31% at ₹6,137 per barrel.
The rise in oil prices comes as China’s manufacturing PMI climbed to 50.2 in February from 49.1 in January, exceeding market expectations. This suggests that China’s economy is recovering, which could boost demand for crude oil.
However, geopolitical tensions persist:
- A recent clash between US President Donald Trump and Ukraine’s President Zelenskyy has dampened hopes for a peace deal.
- A peace agreement could have lifted sanctions on Russia, improving global oil supply.
Additionally, discussions about potential US tariffs on Canadian and Mexican crude oil are raising concerns about energy market volatility.
Conclusion:
The Indian stock market struggled to hold on to early gains, ultimately ending in the red for the ninth consecutive session. While select midcaps and IT stocks showed some recovery, heavyweights like Reliance and HDFC Bank dragged the indices lower.
Key takeaways from today’s session:
- Sensex (-112 points) and Nifty (-5 points) ended lower amid global trade uncertainty.
- IT stocks rebounded after a week-long losing streak, but analysts remain cautious.
- AstraZeneca Pharma jumped 3% on cancer drug approval.
- Indian Overseas Bank hit a fresh 52-week low following a ₹699 crore tax notice.
- Crude oil prices edged up as China’s economy showed signs of improvement.
With global uncertainties still looming, all eyes are now on whether the market can stage a sustainable recovery in the coming days. Will Nifty be able to break its losing streak? Stay tuned.
For more stock market insights, check out the StockGro blog.
