In a tumultuous day on Monday, the benchmark stock indexes Sensex and Nifty gave up early gains to settle lower, driven by selling in industrial and oil and gas firms in the last hour. At 74,115.17, the 30-share BSE Sensex fell 217.41 points, or 0.29 percent, with eight of its members closing higher and 22 down.

The index began the day higher and reached a peak of 74,741.25. But during the pre-close session, selling pressure surfaced, causing the index to drop 310.34 points, or 0.41 percent, to a low of 74,022.24. The Nifty of the NSE closed at 22,460.30, down 92.20 points, or 0.41 percent. By Rs4,43,269.25 crore, the market capitalization (mcap) of companies listed on the BSE decreased to Rs3,93,85,818.73 crore ($4.51 trn).

With rising US unemployment rates and tariffs creating uncertainty, global headwinds are still dragging market sentiment and suggesting that volatility is likely to stay for the foreseeable future. According to Vinod Nair, head of research at Geojit Financial Services, “the domestic macros are favoring investors to start accumulating the beaten-down stocks with caution in the short term, while the long term appears attractive.”

While the midcap index fell 1.46 percent, the BSE smallcap gauge fell 2.11 percent.

Market confidence was impacted by the uncertainties around US tariffs and worries about further foreign selling, which led to the Sensex and Nifty50 closing down. Ameya Ranadive, a Chartered Market Technician, CFTe, Senior Technical Analyst at StoxBox, said, “Markets were choppy as key benchmarks slipped into the red towards the closing stages, with broader markets, particularly mid and small-cap stocks, boring the brunt.” Up to 2,877 stocks fell on the BSE, while 1,203 rose and 149 stayed the same.

Prashanth Tapse, senior V-P (research) at Mehta Equities Ltd., said, “Markets may continue to exhibit volatility with the rupee depreciating sharply and foreign fund outflows showing no signs of cooling off.” IndusInd Bank, Zomato, Larsen & Toubro, Titan, Mahindra & Mahindra, Bajaj Finance, Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, and Tata Consultancy Services were among the laggards among the 30 Sensex businesses. However, the winners were ICICI Bank, Power Grid, Hindustan Unilever, Infosys, Nestle India, Asian Paints, ITC, and Sun Pharmaceuticals.

Industries, Oil & Gas, Capital Goods, Consumer Durables, Real Estate, Energy, Consumer Discretionary, Services, Auto, Commodities, Metal, Healthcare, and Telecommunication were the sectors that lagged behind the BSE sectoral indexes. Utilities and FMCG benefited.