MUMBAI, India — Indian equity markets staged a strong rebound in the final hour of trading on Monday, supported by late buying in heavyweight stocks including Adani Ports, Bharat Electronics, Larsen & Toubro, Mahindra & Mahindra, ICICI Bank and HDFC Bank.
The Sensex recovered sharply from its intraday low of 80,387.25, surging as much as 1,345 points to touch a high of 81,732 before ending the session at 81,666. The benchmark index closed up 944 points, or 1.17 percent.
The Nifty also traded in a wide range. After slipping to a low of 24,679, it climbed to 25,108 and eventually settled at 25,088, gaining 263 points, or 1.06 percent.
The rebound came a day after markets recorded their sharpest Budget-day decline since February 2020. Monday’s recovery was broad-based, with midcap and smallcap stocks also finishing higher.
Improving sentiment was reflected in the India VIX, the market’s volatility index, which fell 8 percent during the session.
Power Grid emerged as the top gainer on the Sensex, rising 7.6 percent after management said its capital expenditure and capitalisation plans for FY26 were on track and expressed confidence of exceeding its annual guidance.
Other major gainers included Adani Ports, Bharat Electronics, Mahindra & Mahindra, Larsen & Toubro, IndiGo, UltraTech Cement, Asian Paints, ITC, Bajaj Finserv, Tata Steel, ICICI Bank, NTPC, Maruti Suzuki and State Bank of India, with gains of up to 4.6 percent.
Only six Sensex stocks ended in negative territory. Axis Bank, Infosys, TCS, Trent, Titan and Kotak Mahindra Bank closed lower.
The broader market also supported the rally, with the Nifty Midcap index rising 0.9 percent and the Nifty Smallcap index gaining 0.6 percent.
Sectorally, most indices finished higher. The Nifty Auto index climbed 2.14 percent, followed by the Nifty Metal index, up 1.8 percent, and the Nifty Realty index, which gained 1.6 percent. The Nifty IT index was the only sectoral decliner, slipping 0.5 percent.
In commodities, precious metals remained under pressure. MCX Silver futures fell sharply by 6.4 percent to close at Rs 2,48,600 per kilogram. Gold prices recovered from intraday lows, with MCX Gold futures ending nearly flat, down 0.1 percent at Rs 1,47,600 per 10 grams. (Source: IANS)
