MUMBAI — Indian equity markets ended higher on Monday, snapping a two-day losing streak as gains in real estate and state-owned bank stocks offset early weakness and global uncertainty.
After a volatile start, the Sensex climbed to an intra-day high of 84,127 before closing 39.78 points, or 0.05 percent, higher at 83,978.49. The Nifty also rose 41.25 points, or 0.16 percent, to settle at 25,763.35.
Analysts noted that the Nifty oscillated between 25,700 and 25,800 throughout the session, displaying resilience after briefly slipping below the October 24 low of 25,718. “The zone between 25,660 and 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 said.
Among major Sensex constituents, Maruti Suzuki declined more than 3 percent and was among the top losers alongside Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel, and Tech Mahindra. In contrast, Mahindra & Mahindra, State Bank of India, Tata Motors Passenger Vehicles, and HCL Tech were the key gainers.
Broader markets outperformed, with the Nifty MidCap index rising 0.77 percent and the Nifty SmallCap index advancing 0.72 percent, reflecting sustained investor interest beyond blue-chip stocks.
Public sector banks led the rally, with the Nifty PSU Bank index climbing 1.92 percent. Bank of Baroda surged 5 percent, while Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank also gained strongly. The Nifty Metal and Realty indices added up to 2 percent each, further supporting the market’s recovery.
Meanwhile, the FMCG, Private Bank, and IT indices slipped up to 0.4 percent, trimming some of the overall gains.
Analysts said that despite mixed global cues and subdued investor sentiment, selective buying helped the market end in positive territory. “The domestic market ended on a marginally positive note as profit booking was visible at higher levels due to the absence of fresh domestic triggers,” market watchers observed. “The broader market outperformed as quarterly earnings continue to guide investors’ short- to medium-term strategies,” they added. (Source: IANS)
