Mumbai (Maharashtra) [India], December 29 (ANI): The Indian stock market ended lower on Monday amid the absence of strong directional triggers and continued profit booking at higher levels.
The BSE Sensex declined 345.91 points, or 0.41 percent, to close at 84,695.54, while the NSE Nifty fell 100.20 points, or 0.38 percent, to settle at 25,942.10.
The Nifty 50 index opened at 26,063.35, gaining 21.05 points, or 0.08 percent, while the Sensex began the session at 85,004.75, down 36.70 points, or 0.04 percent.
Buying interest was seen in only three sectors during the session. Nifty Media rose 0.93 percent, Nifty FMCG gained 0.11 percent, and Nifty PSU Bank edged up 0.05 percent. Nifty IT and Nifty Bank were among the top losers, declining 0.75 percent and 0.53 percent, respectively.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said benchmark indices continued to witness profit booking at higher levels. He noted that the Nifty closed 100 points lower, while the Sensex declined by 345 points. He added that the Media Index gained 0.75 percent, whereas the Consumer Index recorded the sharpest fall, shedding nearly 1 percent.
“Technically, after a muted opening, the market slipped below the 26,000 and 85,000 levels, and following the breakdown, intraday selling pressure intensified,” Chouhan said.
Vinod Nair, Head of Research at Geojit Investments Limited, said the market appears to be short of catalysts for further upside, with many investors remaining in holiday mode, indicating a possible consolidation phase in the near term. He said that while the outlook for 2026 remains constructive, focus is likely to shift toward upcoming third-quarter earnings and greater clarity on the U.S. trade agreement.
“In an environment of global trade uncertainty and a weakening rupee, investors are likely to favor large-cap stocks due to their relative safety and stronger earnings visibility,” Nair said.
Jateen Trivedi, Vice President and Research Analyst for Commodity and Currency at LKP Securities, said the rupee traded in a weak range near the 90 mark as the U.S. holiday season kept the dollar index subdued. He added that near-term currency movement will largely depend on commodity prices and foreign institutional investor activity.
Trivedi said the rupee is expected to trade in the 89.45 to 90.40 range, with investors closely watching the U.S. Federal Reserve meeting minutes later this week for directional cues.
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