Indian equity markets extended their losses in morning trade on Monday as rising crude oil prices and escalating tensions between the United States and Iran weighed on investor sentiment. Selling pressure was visible in IT and media stocks.

Stock Market LIVE: Sensex Extends Losses, Nifty Near 23,800 as Oil Prices Rise

IT, Media and Select Heavyweights Drag Markets Lower; Pharma Shares Offer Support

The Sensex fell 253.68 points, or 0.33 per cent, to 76,261.75, while the Nifty50 declined 78.70 points, or 0.33 per cent, to 23,825.60, as of 10:00 AM.

The market opened on a cautious note amid concerns that higher oil prices could add to inflationary pressures and affect corporate profitability. Investors also remained watchful of global developments and their potential impact on emerging-market equities.

Broader Markets Show Mixed Trends

The broader market displayed a mixed performance during morning trade. The Nifty MidCap 100 slipped 0.15 per cent, while the Nifty SmallCap 100 gained 0.24 per cent.

At the opening, the Nifty MidCap 100 declined 0.21 per cent and the Nifty SmallCap 100 fell 0.18 per cent. The subsequent recovery in small-cap stocks indicated selective buying interest despite weakness in the benchmark indices.

IT and Media Stocks Lead the Decline

Sectoral performance remained uneven, with technology and media stocks facing the strongest selling pressure.

The Nifty Media index declined 2.7 per cent, making it the worst-performing sector, while the Nifty IT index fell 1.2 per cent. In contrast, the Nifty Pharma index emerged as the top gainer.

Among the Nifty50 constituents, Infosys, Tech Mahindra and Bajaj Auto were among the biggest losers. In the IT space, LTM, Infosys and Mphasis remained under pressure.

The weakness in IT stocks came amid a cautious global environment, while media stocks faced additional pressure following company-specific developments.

HFCL Shares Hit 5% Upper Circuit

HFCL Ltd shares snapped a four-day losing streak on Monday, rising 5 per cent in a weak market.

The stock opened around 3.5 per cent higher at ₹239 and extended its gains to hit the upper circuit of ₹243.01 on the NSE.

The sharp recovery came despite the broader market remaining under pressure, highlighting renewed buying interest in the stock.

PVR Inox Shares Plunge 8%

PVR Inox shares declined 8 per cent on Monday, recording their sharpest intraday fall in six months.

The stock came under pressure following reports that the company had asked an executive to leave. The development weighed on investor sentiment and triggered selling in the counter.

Molbio Diagnostic Falls Over 4% After Profit Decline

Molbio Diagnostic shares fell 4.3 per cent to ₹1,111 on the NSE after the company reported a sharp decline in quarterly profitability.

The company’s profit after tax fell 45 per cent quarter-on-quarter to ₹52.74 crore in Q1FY27.

The decline in profit prompted selling pressure in the stock as investors assessed the company’s latest earnings performance.

Axiscades Gains on ₹200 Crore Fundraise Plan

Axiscades Technologies shares rose 2.2 per cent to the day’s high of ₹1,749.50 on the NSE.

The stock gained after the company’s board approved a plan to raise ₹200 crore through the private placement of non-convertible debentures (NCDs).

The proposed fundraise is expected to support the company’s financial requirements and business operations.

Indoco Remedies Slides 5.5% After US FDA Observations

Indoco Remedies shares fell 5.5 per cent to ₹248.06 on the NSE after the US Food and Drug Administration issued seven observations in Form 483 following an inspection of the company’s manufacturing facility in Goa.

Form 483 is issued when the US regulator identifies observations related to manufacturing practices during an inspection.

The development raised concerns among investors regarding regulatory compliance and the potential implications for the company’s operations.

SAIL, MphasiS and Bank of India Among Small-Cap Losers

In the Nifty SmallCap 100 index, Steel Authority of India (SAIL), MphasiS and Bank of India were among the top losers during morning trade.

The weakness in these stocks came despite the broader small-cap index moving into positive territory, reflecting a mixed trend within the segment.

Market Sentiment Remains Cautious

The domestic market remained sensitive to developments in crude oil prices and geopolitical tensions. Rising oil prices can increase input costs for several industries and put pressure on inflation expectations, while geopolitical uncertainty can reduce investor risk appetite.

The mixed performance of the broader markets suggested that investors were adopting a selective approach, with stock-specific developments continuing to influence trading activity.

Market Outlook

The market is likely to remain volatile as investors track crude oil prices, global geopolitical developments and sector-specific news. The Nifty50 may face resistance near the 23,900–24,000 zone, while the 23,800 level remains an important near-term reference point. A sustained recovery above the resistance zone could improve sentiment, whereas continued weakness may keep selling pressure intact.

Investors should monitor global cues, oil prices and corporate developments closely before taking fresh positions.