Markets fall, tech slides on H-1B fee shocker: Nifty closes at 25,200, Sensex down 460 points – 5 key highlights

Indian equity benchmarks closed Monday’s session in the red as the US government raised H-1B visa fees. This hammered IT stocks, which dragged markets. The Nifty 50 closed the day 125 points or 0.49% lower at 25,202, and the Sensex fell 466 points or 0.56% to end at 82,160.

In line with the benchmarks, the Nifty Bank settled 174 points or 0.49% lower at 55,285. The small and midcap stocks also closed lower. The BSE Midcap declined 366 points, or 0.78%, at 46,501. On the other hand, the BSE Smallcap finished 388 points or 0.71% higher at 54,233.63.

“The 25,000 level remains a crucial psychological support, and as long as the Nifty sustains above it, a buy-on-dips strategy remains appropriate, said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broki