Stock market declines on Monday due to selling in IT stocks

On Monday, 9 November, 2026, the benchmark indices of the stock market, Sensex and Nifty, witnessed a decline during early trade. The market pulled down due to selling in blue-chip IT company stocks and profit-booking processes following recent intense bullish sessions. According to a report by The Hindu, the 30-share BSE Sensex fell by 93.95 points to reach 80,919.19, while the 50-share NSE Nifty stood at 24,968.80, down by 30 points.

Among the 30 companies in the Sensex, HCL Tech, Infosys, Power Grid, Bharti Airtel, UltraTech Cement, and Tata Consultancy Services were among the major losers. On the other hand, shares of State Bank of India, HDFC Bank, ICICI Bank, and InterGlobe Aviation saw an increase and emerged as gainers.

Ponmudi R A, CEO of the online trading and wealth-tech company Enrich Money, stated that after a sharp weekly increase and a quiet Muhurat trading session, the market is facing a significant test of momentum in the new week. Investors may be torn between potential upside opportunities and the possibility of short-term profit booking. He further added that investors' immediate focus will be on whether the appetite for buying can sustain the recent rally, especially against the backdrop of global concerns regarding the AI trade and ahead of Thursday's upcoming CPI data, which could be a significant directional indicator for local equities.

Last week, the market witnessed a major rally, with the BSE benchmark rising by 6,568.49 points or 8.82% and the Nifty jumping by 1,977.25 points or 8.57%. During this period, Brent crude, the global oil benchmark, was trading at 98.16 US dollars per barrel, down 0.16 per cent in the global market. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index were trading with gains. US equity markets had closed mostly higher on Friday.

Earlier, on Sunday, a slight decline was also observed in the Sensex and Nifty during the special Diwali Muhurat trading session. In this session, marking the beginning of Samvat 2083 of the Hindu calendar, the Sensex closed at 80,999.40, down by 28.62 points or 0.04%. The Nifty also closed at 24,986.40, down by 43.95 points or 0.18%. Muhurat trading is a symbolic market session held on Diwali, marking the start of the new Hindu calendar year. It is believed that trading during the Muhurat or auspicious hour brings prosperity and financial growth to stakeholders. On regular trading days, the market operates from 9:15 am to 3:30 pm, whereas Muhurat trading lasts for a short duration.