Asian markets witnessed strong performance on Monday with Japan's Nikkei 225 gaining 0.53% to reach a record high and South Korea's Kospi surging 1.5% to hit a new peak of 6,557. According to Livemint, Australia's S&P/ASX 200 declined 0.54%, while Hong Kong's Hang Seng index futures stood at 26,041, slightly above the previous close of 25,978.07. The Gift Nifty index signalled a positive opening of the Indian stock market, trading at 24,086 with an upside of 137 points or 0.57% compared to the previous close of 23,954. As per Livemint, Indian equity markets are expected to remain cautious and volatile amid persistent geopolitical uncertainty, with ongoing ambiguity around US-Iran tensions and broader Middle East developments continuing to weigh on risk sentiment.
Coal India Ltd emerged as the top performer with a price of ₹461.80 and a change of 0.69%, accompanied by a trading volume of 480,841 shares. Nestle India Ltd followed with a price of ₹1,407.90 and a change of 0.87%, recording a volume of 307,872 shares. Cipla Ltd posted a price of ₹1,248.60 with a change of 0.99% and a volume of 129,817 shares. Shriram Finance Ltd recorded a price of ₹1,027.75 with a change of -1.61% and a volume of 816,030 shares. Trent Ltd closed at ₹4,450 with a change of 0.35% and a volume of 996,484 shares. Power Grid Corporation of India Ltd achieved a price of ₹320.60 with a change of 0.27% and a volume of 606,715 shares.
The IT sector faced significant headwinds with major technology stocks experiencing sharp declines. Infosys Ltd was among the top losers with a price of ₹1,209.00 and a change of -2.55%, recording the highest trading volume of 51.15 lakh shares. HCL Technologies Ltd followed with a price of ₹1,240.70 and a change of -2.89%, accompanied by a volume of 11.58 lakh shares. Tata Consultancy Services Ltd declined 1.65% to a price of ₹2,480.10 with a volume of 3.80 lakh shares. Sun Pharmaceutical Industries Ltd posted a price of ₹1,652.50 with a change of -1.64% and a volume of 7.89 lakh shares. Dr Reddy's Laboratories Ltd recorded a price of ₹1,314.50 with a change of -1.24% and a volume of 7.47 lakh shares. ICICI Bank Ltd also declined 0.85% to a price of ₹1,336.50 with a volume of 11.80 lakh shares. The Nifty IT Index fell 4.95% to 30,159.45, led by sharp declines in HCLTech, Infosys, Tech Mahindra, and other IT stocks after weak Q4FY26 earnings and subdued growth guidance.
India's top software exporters are facing investor concerns over growth, with Infosys and HCL Technologies reporting results below expectations. This downturn, exacerbated by a weak global economy and AI disruption, has led to a significant drop in the IT sector's valuation, wiping nearly $115 billion off the value of the IT gauge over four months. As per The Economic Times, the NSE Nifty IT Index is now down almost 25% in 2026, making it the worst-performing sector gauge in India and trailing the Nifty 50 for a second year. The market reaction underscores the two-pronged challenge being faced by India's $315 billion tech industry — a weak global macroeconomic environment amid the Iran war that has weighed on discretionary tech spending, and the rapid rise of artificial intelligence, which is threatening to disrupt their business models. A gauge of the sector plunged more than 5% on Friday to close at its lowest level since June 2023, with both stocks declining after the latest earnings results.
US President Donald Trump on Saturday called off plans to send American envoys Steve Witkoff and Jared Kushner to Islamabad, Pakistan, for talks with Iran, as reported by Axios citing a U.S. official and two sources with knowledge of the matter. This development follows the collapse of planned talks in Pakistan and has provided some relief to global markets. Oil prices surged around 2% after the proposed second round of US-Iran peace negotiations collapsed once again, with Brent crude futures climbing over 2% to $107.49 per barrel and US crude also gaining 1.79% to reach $96.19. The US dollar rose on safe-haven demand with the dollar index at 98.623, while the euro eased 0.14% to $1.1706 and sterling bought $1.35155, down 0.12%. Tensions in the Strait of Hormuz remained elevated after Iran's Revolutionary Guard reportedly seized two cargo vessels near the critical shipping route. As per Livemint, Brent crude remains elevated, trading in the $105–108 per barrel range, and continues to act as a key overhang on market sentiment.
