Mumbai, Dec 29 (IANS) Indian stock markets extended their losing streak for the fourth consecutive session on Monday, dragged down by heavy selling in information technology, realty, pharma and auto stocks.

The benchmark Sensex ended the day at 84,695.54, falling 345.91 points, or 0.41 per cent.

The Nifty also closed lower at 25,942.10, down 100.20 points, or 0.38 per cent, as selling pressure continued across key sectors.

Analysts said that the Nifty slipped below the psychological 26,000 mark and its 20-day EMA, extending losses by nearly 100 points amid heightened volatility ahead of the monthly F&O expiry.

“The index formed bearish candlestick structures, reflecting near-term selling pressure, although it continues to hover around key short-term moving averages for now,” they added.

A sustained break below the 25,900 zone could expose the index to further downside toward 25,800–25,700, as per experts.

On the Sensex, stocks such as PowerGrid, Trent, HCL Tech and BEL were among the top losers, weighing on the index.

However, some buying interest was seen in select counters, with Tata Steel, Asian Paints, Hindustan Unilever, Eternal, NTPC and Axis Bank ending the session with gains.

The broader market also remained under pressure. The Nifty Midcap 100 index declined 0.52 per cent, while the Nifty Smallcap 100 slipped 0.72 per cent.

On the sectoral front, IT, realty and auto stocks faced the most selling. The Nifty IT index fell 0.75 per cent, while the Realty and Auto indices dropped 0.67 per cent and 0.53 per cent, respectively.

In contrast, some defensive and select sectors showed resilience. The Nifty Media index rose 0.93 per cent, while PSU Bank and FMCG indices ended marginally higher by 0.05 per cent and 0.11 per cent.

Analysts said that the market sentiment remained cautious, with investors continuing to pare positions amid sector-specific selling and a lack of strong positive triggers.

“Strong liquidity support from domestic investors, coupled with resilient domestic macro fundamentals, is providing downside protection even as global uncertainties around interest rates and geopolitics continue to restrain aggressive risk-taking,” market watchers stated.

–IANS

pk