MUMBAI — Indian equity markets closed higher on Monday after a volatile trading session, ending a two-day losing streak as gains in real estate and state-owned bank stocks offset early weakness.
The Sensex, after opening lower, rebounded to hit an intra-day high of 84,127 before settling 39.78 points, or 0.05 percent, higher at 83,978.49. The Nifty rose 41.25 points, or 0.16 percent, to finish at 25,763.35.
“The Nifty oscillated between 25,700 and 25,800 through the day, showing resilience after briefly dipping below the October 24 low of 25,718,” analysts said. “The zone between 25,660 and 25,700 once again acted as a strong demand pocket, helping the index recover intraday losses and maintain a constructive tone ahead of key global data releases.”
Among Sensex components, Maruti Suzuki declined more than 3 percent and was among the top laggards, along with Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel, and Tech Mahindra.
Major gainers included Mahindra & Mahindra, State Bank of India, Tata Motors Passenger Vehicles, and HCL Tech.
In the broader market, the Nifty MidCap index climbed 0.77 percent, while the Nifty SmallCap index gained 0.72 percent, signaling continued strength beyond large-cap stocks.
Public sector banks led the rally, with the Nifty PSU Bank index jumping 1.92 percent. Bank of Baroda advanced 5 percent, while Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank also gained. The Nifty Metal and Realty indices added up to 2 percent each.
However, FMCG, Private Bank, and IT indices slipped up to 0.4 percent, trimming overall gains.
Analysts said that despite mixed global cues and cautious investor sentiment, selective buying in key sectors supported the market. “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,” market watchers said. “Meanwhile, the broader market outperformed as quarterly earnings continue to guide investors’ short- to medium-term outlook.” (Source: IANS)
