Indian equity markets closed higher on Monday, snapping a two-day losing streak amid a volatile trading session. Gains in real estate and public sector bank stocks helped offset early weakness.
After a weak start, the Sensex recovered sharply to touch an intra-day high of 84,127 before ending 39.78 points, or 0.05 per cent, higher at 83,978.49. The Nifty 50 also rose 41.25 points, or 0.16 per cent, to settle at 25,763.35.
Analysts said the Nifty showed resilience after briefly slipping below the October 24 low of 25,718. The zone between 25,660 and 25,700 acted as a strong demand area, helping the index recover intraday losses and maintain a constructive tone ahead of key global data releases.
Among Sensex stocks, Maruti Suzuki declined over 3 per cent and was among the top laggards along with Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel, and Tech Mahindra. In contrast, Mahindra & Mahindra, State Bank of India, Tata Motors Passenger Vehicles, and HCL Tech emerged as major gainers.
In the broader market, the Nifty MidCap index gained 0.77 per cent, while the Nifty SmallCap index rose 0.72 per cent, indicating strength beyond frontline stocks. Sectorally, PSU banks led the rally, with the Nifty PSU Bank index climbing 1.92 per cent. Bank of Baroda surged 5 per cent, followed by gains in Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank. The Nifty Metal and Realty indices also advanced up to 2 per cent each.
Meanwhile, the FMCG, Private Bank, and IT indices slipped up to 0.4 per cent, limiting broader market gains.
Market analysts noted that despite mixed global cues and cautious sentiment, buying in select sectors supported the markets. “The domestic market ended on a marginally positive note as profit booking was visible at higher levels due to the absence of fresh domestic triggers. However, broader market outperformance continued as investors focused on quarterly earnings to guide short- to medium-term positioning,” they said.
-IANS