Indian stock markets closed significantly higher on Monday, with benchmark indices staging a strong comeback in the final hours of trading and ending a three-day slide.
The BSE Sensex jumped 939 points, registering a gain of 1.26 per cent to finish at 75,502.85. The NSE Nifty also advanced 257.70 points, rising 1.11 per cent to close at 23,408.80.
The rally was mainly driven by robust buying in auto and banking stocks, which helped push the key indices higher despite weakness in the broader market.
According to market experts, the Nifty currently has immediate support in the 23,200–23,100 range, while a stronger support level lies around 22,950.
On the higher side, analysts view 23,500 as an important resistance mark. A clear breakout above this level could potentially lead to further gains towards 23,800 in the near term.
However, if the index fails to maintain levels above the 23,400–23,500 zone, the market may move into a consolidation phase between 23,000 and 23,500, analysts suggested.
Within the Sensex pack, HDFC Bank, Mahindra & Mahindra, Eternal, and Tata Steel recorded strong gains during the session.
Meanwhile, Sun Pharma, Bharti Airtel, HCL Tech, and TCS were among the stocks that ended the day with losses.
Sectoral Performance
Sector-wise, the auto segment led the rally, with the Nifty Auto index emerging as the best-performing sector of the day.
Financial stocks also contributed to the market’s upward movement, as both the Nifty Financial Services and Nifty Private Bank indices closed with gains.
However, the broader market lagged behind the benchmark indices. The Nifty Midcap 100 slipped 0.43 per cent, while the Nifty Smallcap 100 declined 0.65 per cent.
Market participants observed that strong buying activity towards the end of the session helped benchmark indices close firmly in positive territory.
At the same time, analysts noted that ongoing geopolitical tensions in West Asia and persistently high crude oil prices continued to make investors cautious, leading to sharp sector-wise divergence and volatile trading during the day.
Also Read: IndiGo Partners With Adani Airports To Offer BluChip Rewards On Duty-Free Purchases
To read more such news, download Bharat Express news apps
