Sensex Jumps 482 Points, Nifty Closes Above 22,750 as Metal and Pharma Stocks Rally
Mumbai — Indian stock markets ended higher Monday after a volatile trading session, with strong gains in metal, pharmaceutical and healthcare stocks helping benchmark indices recover from intraday fluctuations.
The BSE Sensex climbed 482 points, or 0.66 percent, to close at 73,606.75, while the NSE Nifty 50 advanced 0.68 percent to settle at 22,753.20.
Broader markets also posted solid gains as investors returned to mid-cap and small-cap stocks following weakness earlier in the session.
The Nifty Midcap 100 index rose 1.19 percent, while the Nifty Smallcap 100 gained 1.38 percent, reflecting improved buying interest beyond large-cap companies.
Metal stocks led the rally, with the Nifty Metal index surging 2.2 percent. Pharmaceutical shares also performed strongly, pushing the Nifty Pharma index up 1.67 percent, while the Nifty Healthcare index recorded gains.
However, the Nifty Media and Consumer Durables indices finished among the weakest sectoral performers.
Among individual stocks, Dr. Reddy’s Laboratories, JSW Steel, BSE Limited and Adani Ports were among the leading gainers on the Nifty.
Shriram Finance, Tata Consumer Products, Bajaj Finance and HDFC Life Insurance were among the major losers.
Within the 30-stock Sensex, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel and Bharti Airtel were among the strongest performers.
Bajaj Finance, HDFC Bank, Maruti Suzuki, HCL Technologies and Power Grid Corporation were among the stocks that weighed on the benchmark.
Market analysts said the Nifty’s close above its 20-day simple moving average, along with its recovery above the 200-week simple moving average, suggested an improvement in the index’s near-term technical position.
The put-call ratio, a measure of options market positioning, increased to 1.12, indicating stronger downside support. However, the India VIX volatility index remained at 17.12, suggesting that investors continue to anticipate significant market fluctuations.
Analysts identified 22,600 as an important support level for the Nifty. Maintaining that level could allow the index to advance toward the 22,800–22,900 range.
A sustained close above 22,800 would be needed to reinforce the market’s upward momentum, according to market observers.
Despite fluctuations throughout the trading session, buying interest in metal and healthcare-related companies helped lift the major indices into positive territory.
The recovery in mid-cap and small-cap shares also indicated an improvement in investor sentiment, although analysts cautioned that elevated volatility could continue to influence market movements in the near term. (Source: IANS)
