After two consecutive sessions of losses, the Indian stock market bounced back on Monday, closing in the green. At the end of the trading day, the Sensex rose 442.61 points or 0.54% to settle at 82,200.34, while the Nifty gained 122.30 points or 0.49% to close at 25,090.70.
Banking Stocks Led the Market Rally
The market rally was primarily driven by banking stocks, with the Nifty Bank index closing 1.19% higher. Apart from this, sectors such as Financial Services, Metals, Realty, Media, Energy, Private Banks, and Commodities were the top-performing indices. On the other hand, IT, PSU Banks, Pharma, FMCG, and Metals ended in the red.
Reliance Industries, IT Giants Among Top Losers
In the Sensex pack, top gainers included Zomato (Eternal), ICICI Bank, HDFC Bank, M&M, BEL, Kotak Mahindra Bank, Bajaj Finserv, L&T, Tata Motors, Power Grid, Titan, Bajaj Finance, and Adani Ports.
The top losers were Reliance Industries, HCL Tech, TCS, HUL, ITC, Maruti Suzuki, Tech Mahindra, NTPC, Infosys, Asian Paints, and Sun Pharma.
Midcap Index Also Sees Gains
Alongside large-cap stocks, the midcap segment also witnessed a rise. The Nifty Midcap 100 index surged 363.85 points or 0.62% to close at 59,468.35. However, the Nifty Smallcap 100 index closed marginally lower by 1.35 points at 18,958.30.
Volatile Trading Session for Nifty
According to Ashika Institutional Equities, the Nifty witnessed a highly volatile session. After opening at 24,999, it saw fluctuations in both directions, hitting an intraday low of 24,882 before bouncing back and reaching an intraday high of 25,079.
Trade Uncertainty Between US and India Limits Gains
The brokerage firm also noted that ongoing uncertainty in trade talks between the US and India dampened overall market sentiment and capped the gains. Investors are closely watching the outcomes of these high-level discussions for further cues.
The Indian markets had a flat opening in the morning, with the Sensex up by just 9 points at 81,767 and the Nifty up by 10 points at 24,977 at 9:45 AM.
