The Indian stock market wrapped up Monday’s trading session on a weaker note. The Sensex closed the day at 82,059.42, slipping by 271.17 points or 0.33%. Similarly, the Nifty 50 ended at 24,941.35, down 74.35 points or 0.3%. The Nifty Bank index settled at 55,420.70, up by 0.12%.
Let’s take a look at what moved the markets today-
Top gainers: Bajaj Finance, PowerGrid lead the pack
Despite the broader market weakness, a few heavyweights managed to shine. Bajaj Finance, PowerGrid, NTPC, IndusInd Bank, and SBI were among the top gainers in the Sensex 30.
Top Losers: Tech stocks under pressure
IT and tech stocks bore the brunt of the sell-off. Infosys, Reliance, TCS, Tech Mahindra, and Eicher Motors were among the key laggards, falling anywhere between 1% to 3%.
Defence stocks take off after Rs 40,000 crore approval
Defence stocks were back in focus today after a big announcement from the Defence Ministry. The Defence Acquisition Council (DAC), in a recent meeting attended by top defence and military officials, granted emergency powers to the armed forces to procure arms and ammunition worth around Rs 40,000 crore. According to a report by ANI, this move is expected to boost indigenous defence manufacturing and led to strong buying in select defence counters.
Protean eGov Technologies hits the lower circuit
The shares of Protean eGov Technologies were locked in a 20% lower circuit. This sharp drop came after the company revealed that it had failed to move to the next stage of the Income Tax Department’s PAN 2.0 project. Protean had bid to become the project’s Managed Service Provider but said in a filing that it was “not considered for the next stage.”
Vodafone Idea sinks 10% after Supreme Court blow
Another major loser today was Vodafone Idea, which saw its stock tumble over 10%, slipping below Rs 6.50. The fall followed the Supreme Court’s dismissal of the telco’s plea seeking relief on interest payments related to its Adjusted Gross Revenue (AGR) dues. With this legal setback, investor sentiment turned sour, pushing the stock close to its 52-week low at Rs 6.47.