Bajaj Finance

India’s benchmark equity indices snapped a four-session winning streak on Monday as profit-booking, particularly in banking stocks, dragged markets lower. The BSE Sensex declined by 452.44 points to close at 83,606.46, while the NSE Nifty fell 120.75 points to settle at 25,517.05. The retreat follows a sharp rally over the previous four days, during which both indices gained over 2.6%. While global cues remained largely positive, investor focus shifted toward quarterly earnings and valuations.

The Indian equity markets witnessed robust momentum last week, with nine out of the ten most valued companies collectively increasing their market capitalization by Rs 2,34,565.53 crore. Reliance Industries spearheaded this surge, gaining nearly Rs 69,557 crore, followed closely by Bharti Airtel and HDFC Bank. This bullish trend coincided with the BSE benchmark climbing 1,650.73 points, or 2 percent. However, Infosys was the sole laggard, registering a decline in its valuation.

After a record rally on Monday, Indian stock markets faced a sharp correction on Tuesday, with the benchmark Sensex plunging by 1,282 points, or 1.55%. Profit-taking across various sectors, especially IT, auto, and private banking, led the decline. The broader Nifty also saw a notable drop of 1.39%. While the markets experienced significant losses, some stocks like Sun Pharma and Bajaj Finance posted gains. Analysts attribute the pullback to profit-booking after the relief-driven surge caused by easing geopolitical tensions and trade war concerns.