Sensex and Nifty Nosedive Amid Earnings Caution

Both the Sensex and Nifty experienced significant declines on Monday during afternoon trade, influenced by foreign fund withdrawals and concerns ahead of the impending earnings season. Negative performances from Asian markets contributed to the downturn. Only Titan and Bajaj Finance showed gains amid widespread losses.

Benchmark equity indices, Sensex and Nifty, plummeted sharply on Monday amid fresh foreign fund outflows and heightened caution ahead of the earnings season set to kick off this week.

The downturn was further exacerbated by weak trends across Asian markets, with major indices in Shanghai and Hong Kong moving lower.

Amid this backdrop, key stocks in the 30-share blue-chip pack, including Tata Steel and Kotak Mahindra Bank, faced substantial losses, while Titan and Bajaj Finance marked the limited gainers in the session.

(With inputs from agencies.)