IT and Metal Stocks Drag Benchmarks Lower; Pharma Holds Up

Strong selling pressure in information technology and metal stocks pulled the major Indian indices down on Monday. The BSE Sensex lost 0.50% to close at 76,132.81, while the NSE Nifty 50 fell the same percentage to 23,779.15.

Key decliners on the Sensex included Infosys, Tech Mahindra and Wipro, while metal heavyweights such as Tata Steel and Hindalco also posted steep losses. On the other side, pharmaceutical and healthcare companies like Apollo Hospitals, Dr. Reddy's Laboratories and Cipla recorded gains, providing a rare bright spot in an otherwise bleak session.

Mid‑cap indices slipped 0.46%, yet the small‑cap index edged up 0.02%, reflecting selective buying in lower‑cap stocks that posted better earnings or resilient demand.

Analysts warned that the sustained rise in crude oil prices, now hovering around $97 per barrel, could keep pressure on the rupee‑dollar exchange rate and dampen growth prospects if the trend continues.