Domestic equity benchmarks fell on Monday amid selling pressure in IT, financial and energy shares, as the earnings season began on an alarming note as investors globally remained on edge with headlines about the ongoing tariff war. Some buying interest in FMCG and healthcare stocks, however, lent some support, saving the headline indices from deeper losses. Both main indices fell as much as 0.6 per cent during the session. The Sensex gave up as much as 490.1 points to hit 82,010.4 on the downside while the Nifty50 slumped 147.9 points to 25,002. 

Caution on the tariff front persisted as, during the weekend, US President Donald Trump mentioned a 30 per cent tariff on most imports from the European Union and Mexico with effect from August 1.

At 1:25 pm, the Sensex was down 347.9 points at 82,152.6 while the Nifty50 was down 98.7 points at 25,051.2--each down 0.4 per cent.

TCS was the top loser in the Sensex and Nifty50 pockets, on track to finish lower for the sixth session in a row. On Thursday, the Tata group IT giant staged a weak financial performance for the quarter ended June 30. Its revenue declined 2 per cent though profit grew 4 per cent and margin remained flat at 24.5 per cent for the first quarter of FY26. 

Analysts had expected a more than 1 per cent increase in revenue with steady profit as well as margin.

Wipro, Tech Mahindra, Jio Financial Services, Infosys, Asian Paints, HCL Tech, Bajaj Finance and Eicher were the top blue-chip losers, falling around 1.5-2 per cent each. 

On the other hand, Eternal, Sun Pharma, ONGC, M&M, Titan and ITC shares were among the top gainers, rising between 0.6 per cent and 3.6 per cent. 

DMart shares fell as much as 3.3 per cent to Rs 3,928.9 apiece on BSE, after the supermarket chain operator reported a weaker-than-expected set of quarterly numbers. 

The Nifty Bank--whose 12 constituents include SBI and HDFC Bank--dropped as much as 157.3 points, or 0.3 per cent, to hit 56,597.5 on the downside. 

Among broader indices, Nifty Midcap 100 and Nifty Smallcap 100 rose around half a per cent each. 

Overall market breadth was skewed in favour of bulls, with an advance-decline ratio of 9:10, as 1,901 stocks rose while 2,181 declined on BSE. 

Major markets across Asia suffered losses with investors cautious about tariff-related uncertainty. Dow Jones futures were down 184.2 points, or 0.4 per cent, at the last count, suggesting weakness on Wall Street later in the day.