On the 30-share Sensex, shares of Mahindra & Mahindra, Maruti Suzuki, Adani Ports, Bajaj Finserv and Titan were among the session’s laggards, down between 0.6% and 2%.The broader markets were mixed, with small-cap stocks up 0.2%, while mid-cap stocks fell 0.1%.
Auto stocks fell 0.9%, making them the weakest performers among the major sector indices. JM Financial warned that auto and auto parts makers, along with aluminum products companies, could be among the companies most exposed to Mexico’s proposed tariff increases.
Shares of IndiGo rose 2.2% for the third time in a row as operations showed signs of stabilizing following widespread flight cancellations earlier this month due to flight schedule disruptions.
Expert views
Continued foreign fund outflows and a weak rupee have kept markets within a narrow range, with currency volatility likely to persist until clarity on the India-US trade deal comes, said Vinod Nair, head of research at Geojit Investments. He adds that expectations of an earnings recovery in the second half of FY26, supported by monetary and fiscal growth engines, will help stabilize sentiment. “Going forward, market momentum is expected to be earnings-driven rather than valuation-driven. Investors are also awaiting key economic indicators, including US CPI inflation and unemployment data, which will shape global liquidity expectations and interest rate outlook through 2026,” Nair said.
Global markets
European shares rose higher on Monday as Wall Street futures signaled a recovery from last week’s sell-off, though gains were curbed by caution ahead of a tough series of central bank meetings and economic data. The pan-European STOXX 600 rose 0.6%.
U.S. stock futures advanced, with S&P 500 e-minis up 0.4%, after Wall Street fell on Friday on concerns about high valuations of AI-linked stocks and ongoing inflation pressures.
Asian markets were weaker, pressured by renewed tensions in the Chinese real estate sector. MSCI’s Asia-Pacific index outside Japan fell 1.2%, led by losses of up to 2.7% in South Korean shares.
Japanese shares found support after the Bank of Japan’s closely watched Tankan survey showed sentiment among major producers at a four-year high, signaling resilience despite the impact of higher US rates.
Gold extended its rally for a fifth session, rising 1.1% to $4,348.83 and nearing record levels. Cryptocurrencies recovered, with bitcoin rising 1.5% to $89,845 and ether rising 2% to $3,145.
Rough impact
Oil prices were little changed on Monday as markets weighed supply risks from rising US-Venezuela tensions against concerns about ample global supply and the possible reduction in geopolitical risk from a Russia-Ukraine peace deal.
Brent crude rose 15 cents, or 0.25%, to $61.27 a barrel by 0924 GMT, while U.S. West Texas Intermediate gained a similar 15 cents, or 0.26%, to $57.59.
Rupee vs dollar
The Indian rupee slid past the 90 per dollar level on Monday to hit a new record low for the third time in a row, as concerns over a prolonged deadlock in US-India trade talks and continued portfolio outflows weighed on the currency.
The rupee weakened during the session to a low of 90.7850, taking its year-to-date decline to around 6%, before paring some losses to close at 90.73 compared to 90.4150 on Friday.
(with input from agencies)
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