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Gold prices declined slightly, influenced by profit-taking activities. Expectations of U.S. interest rate cuts and recession concerns helped limit larger losses. Unemployment rates rose to 4.3% in July, pointing to potential economic challenges. Market sentiment indicates a significant chance of a 50-basis-point rate cut by the Federal Reserve in September.

The Japanese yen hit mid-January highs against the dollar following weak U.S. labor data that fueled recession concerns and anticipated deeper Federal Reserve rate cuts. The selloff in global stock markets, oil, and high-yielding currencies persisted on Monday, leading investors to seek safer assets like cash, while U.S. Treasury yields continued to drop.

Nifty achieved a milestone of 25,000 but later declined due to weak global market cues. Analysts predict further weakness in coming sessions. Foreign investors turned net sellers, offloading Rs 3,310 crore worth of shares. Several stocks entered the F&O ban list. Notable companies will announce their first quarter results on Monday.

Oil prices dropped to their lowest in eight months amid fears of a U.S. recession. Brent crude and U.S. West Texas Intermediate futures saw minor declines. Escalating tensions in the Middle East, including Israeli airstrikes in Gaza, are raising concerns about future crude exports. Recent economic data showing weak global demand also weighed on prices.

A selloff that rocked equity markets around the world is clouding the outlook for investors looking to buy stocks on the cheap, as worries over the U.S. economy and disappointing tech earnings threaten more losses ahead.

Amara Raja Energy & Mobility (ARE&M) has posted about 26 per cent rise in consolidated net profit at Rs 249.12 crore for June quarter FY25. It had reported a net profit of Rs 198.31 crore for April-June period of 2023-24, the company said in an exchange filing on Saturday.

"The index biggies, ICICI Bank, SBI, Axis Bank, and Kotak Bank which together form around 57% of the index, look weak in weekly charts with weekly MACD signals a break seen in SBI and Axis."

Bharti Airtel is expected to report a revenue of Rs 38,488 crore for Q1 FY24, marking a 2.6% YoY increase. Net profit estimates range from Rs 2,068 crore to Rs 3,922 crore. Axis Securities has the highest revenue estimate at Rs 38,996 crore, and Prabhudas Lilladher forecasts a decline in adjusted PAT.

The S&P BSE Sensex closed 1.08% lower at 80,981, while the NSE Nifty50 index ended below the 24,750 level.