Mumbai: Indian equities ended lower on Monday, weighed down by a sharp sell-off in information technology counters amid fresh concerns over H-1B visa regulations.
The S&P BSE Sensex tumbled 466.26 points, or 0.56%, to close at 82,159.97 after slipping as much as 629 points intraday. The NSE Nifty 50 lost 124.70 points, or 0.49%, to settle at 25,202.35. Market breadth was weak, with 2,511 stocks declining against 1,775 gainers on the BSE, while 169 remained unchanged.
The Nifty IT index slumped more than 3%, with all constituents finishing in the red. Large-cap names such as Infosys, TCS, and Wipro shed 2–3%, while midcap players were hit harder, sliding up to 5%. Sectoral indices reflected the gloom, with BSE Focused IT dropping 2.98%, IT 2.73%, and tech 2.09%.
Pharma shares also came under pressure, dragged down by losses in Cipla and Glenmark, while auto stocks traded mixed despite the recent GST rate cut. The Nifty Auto index eased 0.3%. Among notable movers, KFin Technologies slumped 5% on reports that private equity firm General Atlantic may offload its stake.
On the positive side, utilities surged 2.56%, power gained 1.66%, and metals added 0.39%, lending some support to the broader market. Oil & gas and services indices also managed modest advances.
