Stock market goes red after early hour optimism; Sensex down 200 points, Nifty down 50

Despite encouraging early trading, the stock market turned negative. The largest declines were seen in media equities, telecom, financial services, and mid- and small-cap IT sectors. The benchmark BSE Sensex dropped 208.37 points, or 0.28 percent, to 72,989.73 at 10:50 am IST. At 22,074.65, the broader NSE Nifty was down 50.05 points, or 0.23 percent.

The market had crashed last week for a number of reasons, including US President Donald Trump's tariff threats, so the positive sign was significant. Reliance Industries experienced the largest decline of 3.14 percent among the 30 Sensex equities, closing at ₹1,161.95. Following this were Zomato, which was down 2.30 percent, trading at ₹216.65, and IndusInd Bank, which was down 2.47 percent, trading at ₹964.50.

The Nifty Midsmall IT & Telecom Index fell the most of the Nifty sectoral indices, falling 1.84 percent to 8,619.35. Nifty Media, which had down 1.74 percent to 1,362.70, and Nifty Realty, which had dropped 1.64 percent to 13,595.70, came next.