Mumbai: After two consecutive sessions of decline, Indian equity benchmarks ended on a positive note on Monday. The markets witnessed a volatile session but managed to close higher, driven by buying interest in select sectors.
The BSE Sensex closed 39.78 points, or 0.05 percent, higher at 83,978.49, after hitting an intraday high of 84,127. Similarly, the NSE Nifty 50 advanced 41.25 points, or 0.16 percent, to 25,763.35, recovering from early weakness.
Analysts noted that the Nifty oscillated between 25,700 and 25,800, demonstrating resilience after briefly dipping below its October 24 low of 25,718. 'The 25,660–25,700 zone once again proved to be a strong demand area,' analysts said, adding that the index maintained a constructive tone ahead of key global data releases.
PSU Banks and Realty Stocks Outperform
The session’s uptrend was largely powered by gains in public sector banks and real estate stocks. The Nifty PSU Bank index rose 1.92 percent, led by Bank of Baroda, which surged 5 percent. Other gainers included Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank.
The Nifty Realty and Nifty Metal indices also climbed up to 2 percent each, showing renewed sectoral momentum. In contrast, FMCG, Private Bank, and IT indices slipped by as much as 0.4 percent, limiting broader market gains.
Stock Movers and Broader Market Action
Among Sensex constituents, Maruti Suzuki was the top loser, falling over 3 percent, followed by Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel, and Tech Mahindra.
Meanwhile, Mahindra & Mahindra, SBI, Tata Motors Passenger Vehicles, and HCL Tech were the leading gainers.
The Nifty MidCap and SmallCap indices rose 0.77 percent and 0.72 percent, respectively, signaling sustained investor confidence beyond large-cap stocks.
Analyst Takeaways
Market experts said that despite cautious global cues, domestic equities showed strength on selective buying. “The market ended marginally higher as profit booking emerged at higher levels due to the lack of fresh triggers,” analysts noted.
They added that broader market resilience was driven by stock-specific action and strong quarterly earnings, keeping investor sentiment buoyant in the short to medium term.
