Mumbai (Maharashtra) [India], Stock markets showed resilience on Monday and closed in the green after a flat and negative start to the day.
Benchmark indices Sensex and Nifty recovered from their intraday lows, driven by significant gains in the automobile and pharmaceutical sectors.
The BSE Sensex ended the day with a rally of 131.18 points and closed at 77,341.08. Meanwhile, the broader NSE Nifty 50 rose 36.75 points to end at 23,537.85.
Both indices initially opened on a cautious note but gained momentum as the day progressed, reflecting renewed investor confidence.
Throughout the trading session, volatility was a defining characteristic, with sectors such as automobiles, pharmaceuticals and consumer goods showing notable strength.
The Nifty Auto sector posted gains of 0.44 per cent, while the pharmaceutical sector rose 0.39 per cent and the consumer goods sector rose 0.53 per cent.
The performance of these sectors was instrumental in offsetting the losses experienced in the media sector, which faced a sharp decline of more than 1 percent.
In broader markets, the Nifty SmallCap index rose a modest 0.06 per cent, with the Nifty MidCap index seeing a stronger rise of 0.18 per cent.
These moves underscore a cautiously optimistic sentiment among investors, who are showing a selective preference for mid- and small-cap stocks amid broader market uncertainties.
In the Nifty 50 index, 30 stocks advanced while 20 fell, indicating mixed but overall positive market sentiment.
Among the best performing companies are Mahindra & Mahindra (M&M), Shriram Finance, Grasim Industries, Power Grid Corporation and Sun Pharma.
M&M benefited from a buoyant automobile sector, while Shriram Finance posted strong profits, contributing to the positive momentum in financial services.
Grasim Industries gained on optimism in the industrial and chemical sectors, and Power Grid Corporation saw a boost on expectations of higher infrastructure spending.
Sun Pharma, a key player in the pharmaceutical sector, ended the day on a high note, reflecting the overall strength of the sector.
On the negative side, notable laggards include IndusInd Bank, Cipla, Adani Ports and SEZ, Coal India and Tata Steel. IndusInd Bank suffered from profit-taking and sector-specific challenges, while Cipla faced selling pressure despite sector gains.
Adani Ports and SEZ saw a slowdown due to broader market concerns over port operations, Coal India declined amid global pressures on fossil fuels and Tata Steel faced challenges in the metals and mining sector.
Technical analysis suggests that the Nifty has been consolidating within a range of 23,300 to 23,600, indicating a phase of indecision among investors.
Market analysts predict that a break above 23,600 could push the index towards the 24,000 mark in the near term, indicating bullish sentiment. On the contrary, a drop below 23,300 could trigger a downward correction towards 22,750.
Globally, markets presented mixed signals, with European stocks posting gains, driven by strength in the automotive and banking sectors.
In contrast, Bitcoin saw a sudden drop of 4 percent, trading at $61,094, highlighting the current volatility in the cryptocurrency market.
Varun Aggarwal, founder and CEO of Profit Idea, said: "Oil prices rose, driven by expectations of higher demand during the summer months and ongoing geopolitical tensions. Investor sentiment was bolstered by positive economic indicators, including stable industrial production and optimistic forecasts. "For the upcoming monsoon season, however, concerns about a possible global economic slowdown and rising inflation continue to loom, keeping investors cautious" .
Despite a rocky start, Indian stock markets managed to close on a positive note, buoyed by sectoral gains and encouraging global cues.
Investors will closely monitor market signals and economic developments in the coming days.
Benchmark indices Sensex and Nifty recovered from their intraday lows, driven by significant gains in the automobile and pharmaceutical sectors.
The BSE Sensex ended the day with a rally of 131.18 points and closed at 77,341.08. Meanwhile, the broader NSE Nifty 50 rose 36.75 points to end at 23,537.85.
Both indices initially opened on a cautious note but gained momentum as the day progressed, reflecting renewed investor confidence.
Throughout the trading session, volatility was a defining characteristic, with sectors such as automobiles, pharmaceuticals and consumer goods showing notable strength.
The Nifty Auto sector posted gains of 0.44 per cent, while the pharmaceutical sector rose 0.39 per cent and the consumer goods sector rose 0.53 per cent.
The performance of these sectors was instrumental in offsetting the losses experienced in the media sector, which faced a sharp decline of more than 1 percent.
In broader markets, the Nifty SmallCap index rose a modest 0.06 per cent, with the Nifty MidCap index seeing a stronger rise of 0.18 per cent.
These moves underscore a cautiously optimistic sentiment among investors, who are showing a selective preference for mid- and small-cap stocks amid broader market uncertainties.
In the Nifty 50 index, 30 stocks advanced while 20 fell, indicating mixed but overall positive market sentiment.
Among the best performing companies are Mahindra & Mahindra (M&M), Shriram Finance, Grasim Industries, Power Grid Corporation and Sun Pharma.
M&M benefited from a buoyant automobile sector, while Shriram Finance posted strong profits, contributing to the positive momentum in financial services.
Grasim Industries gained on optimism in the industrial and chemical sectors, and Power Grid Corporation saw a boost on expectations of higher infrastructure spending.
Sun Pharma, a key player in the pharmaceutical sector, ended the day on a high note, reflecting the overall strength of the sector.
On the negative side, notable laggards include IndusInd Bank, Cipla, Adani Ports and SEZ, Coal India and Tata Steel. IndusInd Bank suffered from profit-taking and sector-specific challenges, while Cipla faced selling pressure despite sector gains.
Adani Ports and SEZ saw a slowdown due to broader market concerns over port operations, Coal India declined amid global pressures on fossil fuels and Tata Steel faced challenges in the metals and mining sector.
Technical analysis suggests that the Nifty has been consolidating within a range of 23,300 to 23,600, indicating a phase of indecision among investors.
Market analysts predict that a break above 23,600 could push the index towards the 24,000 mark in the near term, indicating bullish sentiment. On the contrary, a drop below 23,300 could trigger a downward correction towards 22,750.
Globally, markets presented mixed signals, with European stocks posting gains, driven by strength in the automotive and banking sectors.
In contrast, Bitcoin saw a sudden drop of 4 percent, trading at $61,094, highlighting the current volatility in the cryptocurrency market.
Varun Aggarwal, founder and CEO of Profit Idea, said: "Oil prices rose, driven by expectations of higher demand during the summer months and ongoing geopolitical tensions. Investor sentiment was bolstered by positive economic indicators, including stable industrial production and optimistic forecasts. "For the upcoming monsoon season, however, concerns about a possible global economic slowdown and rising inflation continue to loom, keeping investors cautious" .
Despite a rocky start, Indian stock markets managed to close on a positive note, buoyed by sectoral gains and encouraging global cues.
Investors will closely monitor market signals and economic developments in the coming days.
