Finwealth Global
  • Home
  • Business
  • Crypto
  • Markets
  • INDIA
  • World
  • Stocks
  • Login
No Result
View All Result
  • Home
  • Business
  • Crypto
  • Markets
  • INDIA
  • World
  • Stocks
No Result
View All Result
Finwealth Global
No Result
View All Result
Login
  • Home
  • Business
  • Crypto
  • Markets
  • India
  • World
  • Contact Us
Home Blog

Public Sector Bank Stocks Experience Sharpest Decline Among Sectoral Indices

Nifty Closes in the Red as PSU Bank and Metal Sectors Lead Losses

2 years ago
in Blog
0
Essential Insights for Aspiring Traders and Investors
159
SHARES
2k
VIEWS
Share on Whatsapp

On Monday, the Nifty index ended on a bearish note, with most sectoral indices recording losses. Nifty PSU Bank and Nifty Metal were notably among the top decliners, falling by 3.09 percent and 1.44 percent, respectively. This downturn in the market was highlighted by Vaibhav Vidwani, a Research Analyst at Bonanza Portfolio. The BSE Sensex also experienced a significant drop of 483 points, concluding the day at 65,512, while the Nifty declined by 141 points to settle at 19,512.

The Middle East witnessed a surge in instability following an unexpected attack by Hamas on Israel over the weekend. This development, along with growing concerns about rising geopolitical tensions stemming from allegations of Iran’s involvement in the assault plot, contributed to the overall pessimism seen in both domestic and international markets.

Several factors added to the market’s gloom, including rising US bond rates, increasing crude oil prices, and foreign institutional investor (FII) selling in Indian markets. The 10-year US Treasury rates, for instance, reached an intraday peak of 4.8 percent, the highest level since August 2007. Additionally, the 30-year bond surpassed the 5 percent threshold for the first time since August 2007, according to Vidwani.

Among the Nifty’s top losers for the day were Adani Ports, Hero MotoCorp, BPCL, HDFC Life, and M&M, while HCL Technologies, Dr. Reddy’s Laboratories, TCS, Tata Consumer, and HUL emerged as the top gainers.

The overall market sentiment was bearish, with all Nifty sectors closing in the red. Major selling pressure was observed in PSU banks, metals, and consumer durables, as noted by Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Investors remained cautious due to concerns about potential rate hikes following strong US jobs data and the surge in oil prices resulting from the ongoing conflict in West Asia.

“In the near term, we expect markets to remain volatile amid geopolitical stress and inflationary pressure ahead of CPI data to be released by the US, Europe, and China later during the week,” Khemka commented.

Tags: bankniftyNIFTYPSUPSUBANKsensex

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Reliance Industries, Tata Motors, Coal India Hit 52-Week Low

3 Midcap IT stocks for upto 29% upside by Motilal Oswal

October 15, 2025
Buy Now, Pay Later: Apps, EMIs, and Down Payment Explained

Don’t Fall into these 5 credit card traps this Diwali

October 13, 2025

MOST VIEWED

  • Japanese Firm to Acquire Yes Bank

    Japanese Firm to Acquire Yes Bank

    1255 shares
    Share 502 Tweet 314
  • GQG Acquires Adani Enterprises, Adani Ports, Adani Green, and Adani Transmission Shares Valued at Rs 26,000 Crores

    833 shares
    Share 333 Tweet 208
  • SEBI Raids Quant Mutual Fund on Front-Running Suspicion

    520 shares
    Share 208 Tweet 130
  • RBI Buys ₹40,000 Crore Gold to Protect India’s Economy

    504 shares
    Share 202 Tweet 126
  • 28000 Rs fined by sebi in Adani case

    458 shares
    Share 183 Tweet 115
  • Privacy Policy
  • GDPR
  • Contact Us

© 2024 Unicorn Finwealth Global Private Limited

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Crypto
  • Markets
  • India
  • World
  • Contact Us

© 2024 Unicorn Finwealth Global Private Limited