Indian Stocks Fall Amid Global Cues, Tensions

Indian stock markets experienced a downturn on Monday, influenced by mixed global cues and geopolitical tensions in the Middle East. The BSE Sensex fell by 264.27 points to close at 85,571.85, while the NSE Nifty50 dropped by 37.10 points, ending at 26,178.95. Key financial stocks such as ICICI Bank, HDFC Bank, and Kotak Mahindra Bank led the decline due to profit-taking by investors. Conversely, IT stocks surged following Accenture's strong earnings, and metal stocks gained momentum thanks to China's economic stimulus measures. SEBI has introduced a new directive allowing individual investors to use UPI for applications in public debt issues up to ₹5 lakh, effective November 1, 2024. Several IPOs saw strong debuts, and companies like Sequent Scientific and Tata Motors made notable announcements that impacted their stock prices.