Mumbai: The stock market started Monday’s session on a very weak note. As soon as trading began, heavy selling was seen across stocks.
Nifty quickly slipped to around 23,350–23,400 in early minutes. The screen was full of red, and investor sentiment was very negative.
Buying emerges at lower levels
However, after the initial panic, the market started to stabilise. Around 9:17 AM, buying interest returned at lower levels.
By 10 AM, Nifty moved back above 23,600. This marked the beginning of a steady recovery during the day.
Gradual recovery through the day
The market slowly improved hour by hour.
Around 11 AM: Nifty crossed 23,700
Around 12 PM: It moved near 23,780
Around 1 PM: It went above 23,850
Around 2 PM: It reached close to the day’s high
By the closing time, Nifty held between 23,830–23,850 levels.
This means the index recovered nearly 450–500 points from the day’s lowest level.
Markets still end in red
Despite the strong recovery, markets closed in negative territory. The Sensex fell 703 points to close at 76,848.
The Nifty dropped 208 points to end at 23,843. Out of 50 stocks in the Nifty index, 38 closed in the red.
Bank Nifty and Midcap indices also recovered over 2% from their lows, showing buying support.
Sector-wise performance mixed
Auto stocks were under pressure, mainly due to concerns over new emission rules and EV policies. Maruti Suzuki fell around 5 percent.
On the positive side, oil-related stocks gained as Brent crude moved near USD 103 per barrel.
MCX shares hit a record high and rose over 3 percent. Puravankara jumped nearly 10 percent after a strong business update.
Some stocks shine, others fall
AC maker Voltas gained around 4 percent due to heatwave forecasts boosting demand expectations.
HDFC Life was among the top gainers in the Nifty index.
However, some stocks saw sharp declines. Jyoti CNC dropped nearly 15 percent after a regulatory issue, and Swiggy shares fell about 4 percent.
Overall, the market showed volatility but also signs of strength at lower levels.
