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For most part of the day, SENSEX and NIFTY traded firmly higher led by gains in information technology shares but weakness in rupee in the second half of the session led to selling pressure in banking and financial services shares. The SENSEX fell as much as 630 points from the day's highest level and NIFTY50 index touched an intraday low of 23,587 after hitting a high of 23,782. The SENSEX ended 114 points lower at 75,200.85 and NIFTY50 index declined 32 points to settle at 23,618. The rupee dropped to a fresh record low of 96.62 against the US dollar in intraday trade pressured by rise in crude oil prices, strong dollar and geopolitical uncertainties. The rupee is Asia's worst-performing currency in 2026, having tumbled to a historic intraday low of 96.62 against the US dollar. The currency has depreciated 1.5% this month and more than 7% this year. Six of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended lower led by the NIFTY Private Bank index's 0.74% fall. NIFTY Bank, Financial Services and Metal indices also closed in the red.

On the flip side, NIFTY IT index rallied for a third straight session, the index surged 3.23% amid falling rupee is triggering a buying interest in IT companies as they earn significant revenue in US dollars. NIFTY Media, PSU Bank, Realty, Pharma and Auto indices also rose between 0.3% and 1%. Broader markets outperformed their larger peers as NIFTY Midcap 100 index rose 0.91% and NIFTY Smallcap 100 index advanced 1.17%. Among the individual shares, Dhanuka Agritech rallied as much as 14.9% to hit an intraday high of ₹1,248 after its board of directors approved a share buyback, along with recommending a dividend and reporting its earnings for the fourth quarter of the 2025-26 financial year (Q4 FY26). Shares of Triveni Turbine surged as much as 10% to hit an intraday high of ₹655 a day after it reported its March quarter earnings. Triveni Turbine post market hours on Monday said that it earned a net profit of ₹102 crore in January-March quarter, marking an increase of 8.5% from ₹94 crore in the year-ago period.

The company's revenue from operations jumped 26% to a record ₹680 crore from ₹538 crore. For financial year 2025-26, revenue rose 9% to ₹2,181 crore. Exports contributed 58% of total revenue and grew 30.1% year on year (YoY). Aftermarket revenue contributed 27.5%, down 6.7% YoY. Kotak Mahindra Bank was top loser in the NIFTY50 index, the stock fell 2.4% to close at ₹382. Titan, Ultratech Cement, Tata Consumer Products, Bharti Airtel, Adani Ports, Coal India and InterGlobe Aviation also fell between 1.14% and 1.8%. On the other hand, Infosys, HCL Technologies, Tech Mahindra, Tata Motors PV, TCS, Eternal, Wipro and SBI Life were top gainers in the NIFTY50 index. The overall market breadth was positive as 2,152 shares ended higher while 1,109 closed lower on the NSE.