Sensex falls 500 pts from day's high, Nifty below 23,100: Selling in bank shares among key factors behind market decline
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Sensex fell 370.61 points and Nifty dropped to 23,065.90 on Monday.
- ✓Selling in bank shares like HDFC Bank and weak global cues hurt investor sentiment.
- ✓Crude prices above $108 a barrel also added pressure.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The equity benchmark indices traded lower on Monday, as investors assessed the results of top private lenders HDFC Bank and ICICI Bank, while crude prices above $108 a barrel weigh on risk sentiment.
At around 11 a.m., the Sensex was down 370.61 points or 0.5 percent at 74,358.66, while the broader Nifty declined to 23,065.90, down 80.25 points or 0.35 percent.
Key factors behind market decline
1) Selling in bank shares: HDFC Bank shares declined 2 percent, emerging among the top losers on the Nifty 50 after the private sector lender reported its second-quarter FY27 results over the weekend. Concerns over pressure on net interest margins and modest earnings growth weighed on sentiment, even as several major brokerages maintained bullish recommendations on the stock.
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Moneycontrol.com
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