Sensex, Nifty fall for fifth day on crude surge, IT slump

Indian benchmark indices Sensex and Nifty fell for a fifth straight session on Monday, dragged by rising crude oil prices and selling in IT stocks. The Sensex dropped 281.09 points (0.36%) to 77,728.16, while the Nifty declined 78.35 points (0.32%) to 24,287.65. Brent crude rose 1.11% to $89.50 per barrel, rediff.com reported, adding that geopolitical tensions, especially the US-Iran conflict and uncertainty over the Strait of Hormuz, kept investors cautious.

Major losers on the Sensex included Infosys, HCL Tech, Sun Pharma, and TCS, while Tata Steel, Axis Bank, and Reliance Industries posted gains, rediff.com said. The Assam Tribune noted that the Nifty IT index was the worst performer, falling nearly 2%, though the Nifty Metal and Nifty Realty indices saw the strongest gains. Broader markets showed resilience, with the Nifty MidCap and SmallCap indices edging up.

Foreign Institutional Investors (FIIs) bought equities worth Rs 508.12 crore on Friday, according to exchange data cited by rediff.com. Experts quoted by The Assam Tribune said the Nifty faces immediate resistance at 24,400 and support in the 24,300, 24,200 zone, a decisive break below 24,250 could drag the index toward 24,000.