Indian equity markets opened lower on Monday amid weak global cues and selling in select heavyweight stocks. The Sensex declined 498 points at the open to 83,072, while the Nifty 50 fell 134 points to slip below the 25,560 level.
The opening decline followed caution across global markets after comments by US President Donald Trump warning of potential tariffs on European countries linked to the Greenland purchase issue. The global backdrop weighed on sentiment, alongside selling by foreign investors and a cautious stance from domestic participants.
Heavyweight stocks including Reliance Industries, ICICI Bank, Wipro, Tata Motors (PV) and Cipla contributed significantly to the decline, pressuring both benchmark indices. Selling was also visible across select IT, banking and pharmaceutical names.
Wipro was among the most active stocks in early trade after its third-quarter results fell short of market expectations. The company reported a year-on-year decline of 7 percent in consolidated profit to ₹3,119 crore. For the fourth quarter, Wipro guided for quarter-on-quarter growth of 0 to 2 percent, citing weak demand, fewer working days and delays in deal closures. The stock fell more than 9 percent and ranked among the top losers on the Nifty.
Reliance Industries reported a 1.6 percent increase in profit for Q3FY26 to ₹22,290 crore. Total revenue rose 10 percent to ₹2.93 trillion, while EBITDA increased 6.1 percent to ₹50,932 crore. However, the EBITDA margin declined to 17.3 percent from 18 percent, leading the stock to trade around 1.5 percent lower.
ICICI Bank shares were under pressure after the lender reported a 4 percent decline in Q3FY26 profit to ₹11,317.9 crore. Provisions nearly doubled during the quarter, impacting investor sentiment. The stock fell about 2.1 percent.
HDFC Bank reported an 11.5 percent year-on-year increase in standalone profit for Q3FY26 to ₹18,653.8 crore. Despite the earnings growth, the stock edged down around 0.3 percent in line with the broader market trend.
Among the Nifty 50 constituents, M&M, Bharti Airtel, Cipla, Sun Pharma, L&T, Tata Motors (PV), Dr Reddy’s Laboratories, Infosys, Eicher Motors and Max Health were among the top laggards during early trade.
Some stocks traded higher despite the broader weakness. IndiGo, Tech Mahindra, Axis Bank, HUL, Kotak Bank, BEL, Trent, Jio Financial Services and HDFC Life were among the gainers.
In the broader market, the Nifty Midcap index declined about 0.40 percent, while the Nifty Smallcap index fell 0.48 percent, indicating pressure beyond frontline stocks.
Sectorally, most indices traded lower, with Nifty Pharma down 0.6 percent, Nifty IT lower by 0.5 percent and Nifty Auto declining 0.4 percent. The Nifty Metal index traded higher by 0.24 percent.
In the primary market, shares of Bharat Coking Coal Limited are scheduled to list on Monday after the IPO received subscriptions of more than 143 times. In the SME segment, the Armor Security IPO is closing for subscription today, while the Aritas Vinyl IPO is in its second day. The Modern Diagnostic and Research Center SME IPO is also open for its second day.
