Sensex and Nifty Slip Amid Profit Booking, Foreign Fund Outflows Ahead of RBI Policy

Benchmark Indian equity indices witnessed profit booking on Monday, September 29, giving up early gains and turning volatile in afternoon trade. The Sensex slipped over 200 points from the day’s high, while the Nifty fell below the 24,650 level, extending its seven-day losing streak. Persistent foreign fund outflows weighed on banking stocks, ahead of the Reserve Bank of India’s policy announcement scheduled for Wednesday.

The Sensex closed at 80,364.94, down 61.52 points or 0.08%. During the day, it touched a high of 80,851.38 and a low of 80,248.84. The Nifty ended at 24,634.90, declining 19.80 points or 0.08%, marking a more than 3% drop over seven consecutive sessions.

Among the major laggards, Axis Bank, Maruti Suzuki India, Adani Enterprises, Kotak Mahindra Bank, and Larsen & Toubro saw intraday declines of up to 2%, reflecting investor caution amid macro uncertainty and profit booking.

Analysts noted that with the RBI’s policy decision approaching, markets are likely to remain volatile, and investors are closely monitoring sectoral performances, especially in banking and financial stocks, which have been most impacted by foreign capital movements.