Markets
Sensex drops 876 points as Axis Bank and IT drag; markets shut today
Nifty ends at 22,888.95 after profit-taking snaps a two-day rally.
On Monday the Sensex fell 876.37 points (1.17%) to 73,852.90 and the Nifty 50 lost 257.20 points (1.11%) to 22,888.95, ending a two-day winning streak after last week's strong gains.
Private banks led the fall. Axis Bank slid 4.2% after its September-quarter profit fell slightly short of estimates, while LTIMindtree and UltraTech Cement also dropped after earnings misses. Losers outnumbered gainers by more than two to one.
Public-sector banks bucked the trend: the PSU Bank index rose 2.5%, with Union Bank of India up 5.3% and PNB up 4.8% on better quarterly numbers. Indian markets are closed on Tuesday for a holiday.
Why it mattersEarnings season is now driving individual stocks hard in both directions, so quarterly results matter more than usual this week. High oil prices remain the main outside risk.
Sources
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
💬 Comments
Be respectful and stay on topic. No stock tips or promotions; comments are moderated.
Comments are opening soon. Meanwhile, share your view on X or Telegram using the buttons above.