The stock market opened in red on Monday, December 30. The BSE Sensex dropped 142 points to 78,556.81 in early trade, while the Nifty declined by 48.35 points to 23,765.05. Among large caps, Adani Enterprises emerged as the top gainer, rising by 2.87%. In the mid-cap segment, Phoenix Mills saw an increase of 1.17%, while Jai Corp led the small caps with a 7.35% gain.
India’s economy is projected to grow between 6.5% and 6.8% in the current fiscal year, according to Deloitte's forecast. However, Avenue Supermarts was the biggest loser among large caps, falling by 1.50%.
Indian markets had advanced on Friday, buoyed by gains in the automotive and banking sectors. Despite this, investor sentiment remained cautious due to outflows by foreign institutional investors and a significant decline in the rupee.