Market wrap: L&T, Bharti Airtel, Infosys, Tech Mahindra top gainers and losers on Nifty and Sensex on Monday

Indian equity markets ended lower on Monday, September 7, as elevated crude oil prices and persistent geopolitical uncertainty weighed on investor sentiment. Markets remained under pressure through the session amid sustained risk-off positioning, although the rupee’s relative resilience provided some stability to the domestic backdrop.

The NSE Nifty 50 ended at 23,779.15, down 118.55 points, or 0.50%. The BSE Sensex closed at 76,132.81, declining 382.62 points, or 0.50%.

Among broader market indices, the Nifty Midcap 100 fell 0.46%, while the Nifty Smallcap 100 edged up 0.02%.


Sectorally, all indices ended in the red, barring the pharma and healthcare indices. IT and media stocks witnessed the sharpest selling pressure, with the Nifty IT and Nifty Media indices declining more than 2% each.

Market breadth remained negative. Of the 3,698 stocks traded on the NSE, 2,082 stocks ended lower, while 2,084 stocks were in the red. Meanwhile, 105 stocks remained unchanged on Monday.

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Here are today’s top gainers on the Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on the Nifty

Here are today’s top losers on the Sensex

Technical view

The Nifty 50 remained under pressure for most of the session and touched an intraday low of 23,738, where it found some support. However, the recovery remained subdued, with the index failing to attract strong buying interest at lower levels.

On the upside, the 23,800 zone, which had previously acted as an important support level during earlier declines, is now likely to serve as an immediate resistance level. The 24,000 mark, however, remains the key psychological hurdle. Unless the index decisively reclaims and sustains above this level, selling pressure at higher levels is likely to persist, keeping the overall technical structure weak, according to Ponmudi R, CEO of Enrich Money.

“On the downside, the 23,750–23,700 zone remains the immediate support, based on today’s intraday low. A decisive closing below this level could intensify selling pressure and expose the index to the 23,600 region. Holding above 23,738 will therefore be important to prevent further deterioration in the near-term technical setup.”

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)