India’s benchmark indices closed higher on Monday, recovering from a subdued start. Both benchmark indices posted notable gains, reflecting strong investor sentiment
The Sensex rose by 445.29 points (0.56%) to settle at 80,248.08, while the Nifty 50 advanced by 142.90 points (0.59%) to close at 24,274.00. Out of the 50 Nifty-listed stocks, 31 ended in the positive territory, while 18 saw declines.
Top-performing stocks included Ultratech Cement, Apollo Hospitals, Grasim Industries, Shri Ram Finance, and JSW Steel. These companies led gains across construction, healthcare, and financial sectors, boosting market sentiment.
Meanwhile, HDFC Life, NTPC, Cipla, SBI Life, and Hindustan Unilever were among the key laggards, reflecting mixed investor sentiments in some sectors.
Market analysts attributed the recovery to favorable global cues and resilient domestic fundamentals. Gains in the core sector output for October further supported optimism. “Despite a slowdown in Q2 growth, the market retained a positive bias. Mid and small-caps are also showing signs of recovery,” said Vinod Nair, Head of Research at Geojit Financial Services.
However, caution lingers as the Reserve Bank of India’s upcoming policy meeting could bring revisions to GDP forecasts. Nair noted that while inflation dynamics are unfavorable for a rate cut, the RBI may adopt a more realistic growth projection for FY25.
Adding to the discussion, VLA Ambala, Co-Founder of Stock Market Today, highlighted India’s strategic economic position. “India is poised for manufacturing growth but requires significant investment and management. The recent decision to opt out of the RCEP reflects a push for self-reliance but adds market pressure,” Ambala said.
(ANI)