Markets end mixed as IT slide caps gains in energy, pharma stocks

The domestic stocks ended mixed on Monday, with benchmark indices easing off early lows while broader markets outperformed, led by midcaps and realty stocks. Weakness in information technology shares weighed on headline indices, even as gains in upstream oil and midcap pharma stocks lent some support.

The NSE Nifty 50 index fell 68 points to close at 25,082, while the S&P BSE Sensex dropped 247 points to end at 82,253. The market breadth was neutral, with the advance-decline ratio at 1:1.

The Nifty Midcap 100 index jumped 410 points to 59,053, while the Nifty Bank index rose 11 points to 56,765.
IT stocks remained a drag, with the Nifty IT index ending as the session’s worst-performing sector. Avenue Supermarts slipped into the red following a weak June-quarter earnings report, reversing an early recovery.

Private equity firm Multiples Alternate Asset Management agreed to acquire a 32% stake from the promoter group of VIP Industries, sending the stock up 5%.

Real estate stocks rallied, with the Nifty Realty index leading sectoral gains, boosted by wholesale price inflation (WPI) data coming in below estimates.

Upstream oil companies rose as Brent crude climbed above $71 per barrel. ONGC gained 1%, while oil marketing companies and paint stocks fell on concerns over rising input costs.

Midcap pharmaceutical stocks advanced, with Laurus Labs, Granules India, and Mankind Pharma among top gainers.

New-age companies saw strong buying interest and healthy volumes, with Eternal emerging as the top performer on the Nifty.

Bosch extended its gains, up 15% so far this month. Hindustan Zinc rose as silver prices on MCX surged past ₹1.14 lakh per kg, hitting a record high.

Ola Electric jumped 20%, logging its highest single-day volumes since announcing Q1 results.

MTNL advanced after the government approved non-auction-based asset sales, while AU Small Finance Bank fell 2% after Kotak Institutional Equities downgraded the stock.