Indian stock markets end higher after two days of losses
Indian equity markets ended a volatile session on a positive note on Monday, snapping a two-day losing streak.
Gains in real estate and state-owned bank stocks helped lift the indices despite early weakness.
After opening lower, the Sensex recovered to touch an intra-day high of 84,127 before closing 39.78 points, or 0.05 per cent, higher at 83,978.49.
The Nifty also gained 41.25 points, or 0.16 per cent, to end 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 25,660–25,700 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,” they added.
Among the Sensex stocks, Maruti Suzuki fell over 3 per cent and was among the top losers along with Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel and tech Mahindra.
On the other hand, Mahindra & Mahindra, State Bank of India, Tata Motors Passenger Vehicles, and HCL Tech were the major gainers.
In the broader markets, the Nifty MidCap index rose 0.77 per cent, while the Nifty SmallCap index advanced 0.72 per cent, showing strength beyond the frontline stocks.
Among sectoral indices, PSU bank shares led the rally, with the Nifty PSU Bank index climbing 1.92 per cent.
Bank of Baroda surged 5 per cent, while Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank also gained.
The Nifty Metal and Realty indices also added up to 2 per cent each.
Meanwhile, the FMCG, Private Bank, and IT indices slipped up to 0.4 per cent, capping the market’s overall gains.
Analysts said that despite mixed global cues and cautious investor sentiment, buying in select sectors helped the markets end the day in the green.
"The domestic market ended on a marginal positive note as profit booking was visible at the higher levels due to the absence of fresh domestic triggers,” market watchers said.
“While the broader market outperformed since the quarterly earnings are steering investors' preference to take a short- to medium-term view,” they mentioned.
