Mumbai: Indian stock markets ended in the red on Monday after the US government announced a sharp hike in H-1B visa fees. The move hit IT companies the hardest, dragging key indices lower. The Nifty 50 closed 125 points or 0.49 percent lower at 25,202, and the Sensex fell 466 points or 0.56 percent to 82,160.
Broader Markets Mixed
While the large-cap indices were weak, the broader market saw mixed action. The Nifty Bank fell 174 points to 55,285, and BSE Midcap dropped 366 points to close at 46,501, down 0.78 percent. However, the BSE Smallcap index rose 388 points or 0.71 percent to end at 54,233.63, showing some strength in smaller stocks.
Top Gainers
Despite the market fall, some stocks gained. Adani Enterprises was the top gainer, rising 3.98 percent, followed by Zomato, Bajaj Finance, Adani Ports, and UltraTech Cement.
Top Losers
On the losing side, Tech Mahindra fell the most, down 3 percent. Other tech majors like TCS, Infosys, and Wipro also dropped, following concerns over increased visa costs affecting profitability.
Market Breadth and 52-Week Records
Out of 3,205 stocks traded on BSE today, 1,186 advanced, 1,920 declined, and 99 remained unchanged. 107 stocks hit 52-week highs, while 53 stocks touched new 52-week lows.
