Markets slips on weak global cues, oil surge; Nifty below 23,150

The domestic share market witnessed a sharp sell off on Monday led by sustained foreign fund outflows,escalating tensions in West Asia and surging crude oil prices that weighed heavily on investor sentiment.At close, the Sensex was down 719.08 points or 0.97 percent at 73,524.26, and the Nifty was down 243.70 points or 1.04 percent at 23,123.
Max Healthcare, Power Grid Corporation, Bharat Electronics, Tech Mahindra and Nestlé India were the top gainers on the Nifty, while losers included Wipro, Jio Financial Services, Eternal, Hindalco Industries and Shriram Finance.On the sectoral front,all indices ended in negative territory. The Realty and Metal indices were the worst performers, declining more than 2% each. Selling pressure was also visible across Auto, Consumer Durables, IT, Media, Infrastructure, Power, Energy and Oil & Gas sectors, all of which fell over 1% during the session.The broader market underperformed the benchmarks, with the Nifty Midcap 100 index declining 1.4%, while the Nifty Smallcap 100 index shed 1.9%.
Rupee Close:
On 8 Jun'26,the Indian rupee depreciated 56 paise to settle at 95.74  against the US dollar on Monday, pressured by elevated crude oil prices and the strength of the U.S. dollar in the overseas market due to higher risk aversion amid escalating geopolitical tensions.Forex traders said the USD/INR pair erased the previous trading session’s gains on risk aversion in global markets. Further, a sharp jump in crude oil prices and a rise in the U.S. dollar index dented investor sentiment.
Trading Guide:
Market experts  recommended five shares to buy on Monday:  Greaves Cotton Ltd, Saregama India Ltd, NRB Bearings Ltd, Apollo Pipes Ltd, and Adani Energy Solutions.

(Business Correspondent)