Synopsis : Indian equity markets tumbled sharply on Monday as heavy selling in Reliance Industries, ICICI Bank and Wipro dragged the Sensex down over 500 points and pushed the Nifty close to 25,550. Rising global uncertainty and weak corporate earnings triggered a spike in volatility, with India VIX jumping nearly 5%.
Indian stock markets witnessed a steep sell-off on Monday, weighed down by sharp declines in heavyweight stocks such as Reliance Industries (RIL), ICICI Bank, Wipro, Tata Motors PV and Cipla. The negative momentum was further amplified by cautious global cues after US President Donald Trump threatened new tariffs on European nations following resistance to his Greenland acquisition proposal.
By mid-session, the BSE Sensex slipped over 620 points to around 82,950, while the NSE Nifty50 fell nearly 187 points to about 25,507, reflecting broad-based selling pressure. Market volatility surged, with the India VIX climbing around 5%, indicating heightened investor nervousness.
Wipro Slumps on Weak Earnings and Outlook
Shares of Wipro plunged more than 9% after the IT major reported a 7% year-on-year decline in Q3 consolidated profit to ₹3,119 crore. The company’s muted Q4 guidance of 0–2% quarter-on-quarter constant currency growth disappointed investors, pointing to demand softness, fewer working days and slower deal ramp-ups.
Reliance and Banks Add to the Pressure
Reliance Industries declined over 2%, despite posting a modest rise in quarterly profit. The company reported a 1.6% year-on-year increase in Q3FY26 net profit to ₹22,290 crore, while margins contracted slightly, raising concerns about profitability sustainability.
ICICI Bank shares dropped nearly 3% after its Q3 profit fell 4% year-on-year, driven by a sharp rise in provisions. Meanwhile, HDFC Bank slipped marginally, supported by steady earnings growth and improved net interest income.
Broader Market Weakness
Several frontline stocks including M&M, Bharti Airtel, Cipla, Sun Pharma, L&T, Infosys, Eicher Motors and Dr Reddy’s Labs also remained under pressure. On the positive side, selective buying was seen in IndiGo, Tech Mahindra, Axis Bank, HUL, Kotak Bank, BEL and Trent.
In the broader markets, the Nifty MidCap index declined 0.53%, while the Nifty SmallCap index fell 0.64%, indicating risk aversion beyond large-cap stocks.
Sectoral Performance
Sector-wise, Nifty Pharma, IT and Auto indices slipped between 0.4% and 0.6%, reflecting earnings-related concerns and global uncertainty. The Nifty Metal index was the only sector in the green, gaining modestly as commodity prices provided some support.
Outlook
Market participants remain cautious amid elevated volatility, weak earnings visibility in select sectors, and uncertain global trade developments. Analysts expect choppy trading in the near term, with investors likely to stay selective until clarity emerges on global policy actions and corporate performance.
Disclaimer : This article is for informational purposes only and does not constitute financial or investment advice. Stock market investments are subject to market risks. Please consult a qualified financial advisor before making any investment decisions.
