The BSE Sensex ended at 83,627.69, down by 250.48 points or 0.30%, while the NSE Nifty50 closed at 25,732.30, losing 57.95 points or 0.22%.
The broader market saw mixed results. The Nifty MidCap 100 index fell 0.20%, while the Nifty SmallCap 100 index ended 0.60% higher, indicating some strength in smaller stocks.
Impact on the stock market
Sector-wise performance
On a sectoral level, consumer durables and realty stocks weighed on the market, with the Nifty Consumer Durables index falling by 0.89% and the Nifty Realty index dropping 0.62%. These declines were driven by stocks like Trent, L&T, and IndiGo, which were among the top losers.
On the flip side, Nifty PSU Bank and Nifty Media sectors showed resilience, gaining 0.78% and 0.76%, respectively. Stocks like Eternal, ICICI Bank, and Tech Mahindra were the top gainers, rising between 1% and 3.4%.
| Sector/Index | Performance |
| IT & BPM sector | 0.65% |
| Healthcare sector | -0.17% |
| Oil & Gas sector | -0.34% |
| Real estate sector | -0.62% |
| PSU Bank in India | 0.78% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| ONGC | 243.78 | 3.42 |
| Eternal | 294.55 | 3.26 |
| Tech Mahindra | 1,614.80 | 1.81 |
| Hindalco | 936.30 | 1.76 |
| ICICI Bank | 1,437.00 | 1.69 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Trent | 3,921.90 | -3.32 |
| Larsen & Toubro | 3,887.40 | -3.27 |
| Reliance | 1,452.80 | -2.05 |
| Dr Reddys Labs | 1,191.30 | -1.99 |
| Interglobe Aviation | 4,759.50 | -1.87 |
Market aftermath: Impact on stocks
Cipla: Market reaction to Aurobindo’s Advair approval
Shares of Cipla dropped nearly 2% after Citi research noted that the approval of a generic version of Advair by the US FDA for Aurobindo Pharma was a “marginal negative” for Cipla. Aurobindo’s approval could potentially reduce Cipla’s market share for the key respiratory drug.
Cipla’s stock fell to a nine-month low of ₹1,436.60 before recovering slightly to close at ₹1,448. While Cipla has been awaiting FDA approval for its own generic Advair, Citi believes it could still receive approval in the near future, which would add $50 million to Cipla’s US revenue by FY27.
ICICI Prudential Life: Strong Q3 results boost stock
ICICI Prudential Life Insurance reported solid Q3 FY26 results, with a 20% increase in net profit year-on-year. Profit for the quarter rose to ₹390 crore, driven by stronger investment income and improved profitability in the retail protection business.
The insurer’s stock surged over 2%, reflecting investor optimism, especially after a 23.5% increase in net profit for the first nine months of FY26. Value of New Business (VNB) saw impressive growth, rising 24.4%, with a significant increase in retail protection premiums. Despite some pressure in persistency metrics, the overall outlook remains positive.
L&T: Stock hit by Kuwaiti project news
Larsen & Toubro (L&T) shares fell 4% after a report suggested that Kuwait may cancel $8.7 billion worth of oil project tenders. However, L&T quickly clarified that these projects were not part of its order book, and the company could not comment on the status of tenders or its clients’ commercial decisions.
The stock dropped to a one-month low of ₹3,846, but L&T remains confident about its long-term prospects, with a strong pipeline of projects in its energy sector. Despite the short-term pressure, L&T has outperformed over the past six months, gaining nearly 10%.
Crude oil: Supply risks rise with unrest in Iran
Crude oil prices traded higher on Monday, driven by concerns over potential supply disruptions due to escalating unrest in Iran. Brent crude was up by 0.13%, reaching $63.42, while WTI crude rose 0.41% to $59.18.
Iran, the fourth-largest OPEC member, has been experiencing protests that have now entered their third week, raising fears about potential disruptions in oil supply. These tensions are keeping global oil markets on edge, as Reliance Industries and other refiners continue to adjust their sourcing strategies.
Conclusion
Indian markets experienced a cautious day of trading, weighed down by concerns in the consumer durables and realty sectors, while some optimism around the US-India trade talks provided a modest lift. Strong earnings from ICICI Prudential Life helped offset the drag from other stocks, and Cipla felt pressure due to competition in the generic Advair market.
The announcement regarding potential supply risks in Iran added to the volatility in crude oil markets, keeping investors on alert. With key data releases and upcoming events like the Union Budget and retail inflation figures later this week, the market is likely to stay reactive to both global and domestic cues.
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