MUMBAI — Indian stock markets ended higher Monday after a volatile trading session, with gains in metal, pharmaceutical and healthcare stocks helping benchmark indices recover from earlier weakness.
The 30-share BSE Sensex rose 482 points, or 0.66%, to close at 73,606.75, while the NSE Nifty 50 advanced 0.68% to finish at 22,753.20.
Both indices experienced fluctuations during the session before gaining momentum, supported by buying interest in select heavyweight stocks and a recovery in the broader market.
Metal stocks led the gains, with the Nifty Metal index climbing 2.2%. The Nifty Pharma index advanced 1.67%, while healthcare shares also recorded gains.
The Nifty Media and Consumer Durables indices were among the weakest sectoral performers.
Broader market indices outperformed the benchmarks as investors returned to mid-cap and small-cap shares following declines earlier in the session.
The Nifty Midcap 100 index gained 1.19%, while the Nifty Smallcap 100 rose 1.38%, indicating renewed buying interest beyond the largest listed companies.
Among Nifty stocks, Dr. Reddy’s Laboratories, JSW Steel, BSE Limited and Adani Ports were among the leading gainers.
Shriram Finance, Tata Consumer Products, Bajaj Finance and HDFC Life Insurance were among the session’s major losers.
Within the Sensex, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel and Bharti Airtel were among the strongest performers.
Bajaj Finance, HDFC Bank, Maruti Suzuki, HCL Technologies and Power Grid Corporation were among the stocks that weighed on the index.
Market analysts said the Nifty’s close above its 20-day simple moving average and its recovery above the 200-week simple moving average suggested an improvement in the index’s near-term technical outlook.
The put-call ratio rose to 1.12, indicating stronger positioning against potential declines. However, the India Volatility Index remained elevated at 17.12, suggesting traders continued to anticipate significant market fluctuations.
“The PCR rose to 1.12, indicating better downside positioning, but India VIX at 17.12 shows that traders continue to expect wide market swings,” analysts said.
Technical analysts identified 22,600 as an important support level for the Nifty, with the index potentially extending its recovery toward the 22,800–22,900 range if that level holds.
“Holding above 22,600 could extend the move toward 22,800–22,900, with a sustained close above 22,800 required to strengthen momentum,” market watchers noted.
Despite the session’s volatility, gains in metals, pharmaceuticals and healthcare provided support for the major indices.
The recovery in mid-cap and small-cap stocks also pointed to an improvement in investor sentiment, although analysts cautioned that continued market volatility could influence the sustainability of the rally. (Source: IANS)
